Markets will tends to produce too little of activities that generate positive externalities
a. True
b. False
A
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Does a person who works in a brothel sell productive services?
A) Yes, if the service is demanded. B) Yes, but only in states where brothels are legal. C) No, because the service is immoral. D) No, because the service does not help the overall economy.
As opposed to GDP, GNP tries to measure
A) the happiness of a nation. B) the value of all intermediate goods produced in a nation. C) the economic performance of a nation's citizens regardless of where they happen to be producing. D) the economic performance of a country's economy regardless of the nationality of the producers.
The solution in the prisoner's dilemma is called the
a. loss minimizing solution b. profit maximizing equilibrium c. dominant-strategy equilibrium d. revenue maximizing equilibrium e. marginal revenue solution
Deposits are examples of a bank's:
A. assets. B. liabilities. C. net worth. D. balance sheet.