The United States began to report its gross domestic product (GDP) only since
A) 1900.
B) 1921.
C) 1931.
D) 1941.
E) 1991.
E
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The opportunity cost of moving from point a to point b in the above figure is ________
A) zero B) 3/2 pairs of socks per sweater C) 3 pairs of socks D) 2 sweaters
Which of the following is a non-price determinant of supply?
A) the price of related goods consumers may buy B) technological advances in production C) consumers' incomes D) the number of consumers
Which of the following factors contribute to economic growth?
a. a decline in the stock of physical capital b. the discovery of new oil reserves c. a decrease in the productivity of labor d. a decrease in the quantity of labor due to emigration
In the prisoners' dilemma game with Bonnie and Clyde as the players, the likely outcome is
a. a very good outcome for both players. b. a very good outcome for Bonnie, but a bad outcome for Clyde. c. a very good outcome for Clyde, but a bad outcome for Bonnie. d. a bad outcome for both players.