In general, each additional year of schooling is worth about:
A. 5 percent more in overall earnings over the course of a lifetime.
B. 50 percent more in overall earnings over the course of a lifetime.
C. 25 percent more in overall earnings over the course of a lifetime.
D. 10 percent more in overall earnings over the course of a lifetime.
Answer: D
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The Greeks who had anticipated that Greece would opt-out of euro,
A. purchased government securities from the central bank of Greece. B. increased their euro-denominated deposits in Greek banks. C. converted their liquid assets to gold deposits. D. closed their euro-denominated accounts and took those to foreign banks.
In the classic 1944 movie Double Indemnity, Barbara Stanwyck plays Phyllis Dietrichson, a woman who has devised a scheme with insurance agent Walter Neff, played by Fred MacMurray, to trick her husband into signing a life insurance policy and then kill
him to collect the proceeds of the policy. In this scheme to murder her husband, Phyllis and her partner Walter took advantage of the husband when getting him to sign the life insurance policy, a situation which describes A) rational ignorance. B) the principal-agent problem. C) adverse selection. D) moral hazard.
A small open economy has a current account balance of zero. A rise in the world real interest rate causes
A) a current account surplus. B) a financial account surplus. C) net borrowing from abroad. D) absorption to exceed income.
Price discrimination takes place when a firm
A) charges the same price for all the units of its product that it sells. B) charges different prices for different units of its product. C) is discriminated against by consumers. D) None of the above answers is correct.