Which of the following statements is true?
A) The level of innovation is likely to be similar in an economy with inclusive institutions and an economy with extractive institutions.
B) The number of entrepreneurs is likely to be higher in an economy with extractive institutions than an economy with inclusive institutions.
C) The number of entrepreneurs is likely to be lower in an economy with extractive institutions than an economy with inclusive institutions.
D) The level of innovation is likely to be similar in a command economy and a market economy.
C
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In the life-cycle hypothesis, a person who expects to work for R years earning Y dollars per year, and live for a total of L years, will consume ________ per year
A) RY - (L - R)Y B) LRY C) (L - R)Y D) (R/L)Y
The following table shows Alex's estimated annual benefits of holding different amounts of money.Average moneyholdings($)Total benefit($)700508005990066100071110074How much money will Alex hold if the nominal interest rate is 8 percent? (Assume she wants her money holdings to be in multiples of $100.)
A. $900 B. $800 C. $1,000 D. $700
A rational individual will never consume a unit of a good if its
A. marginal utility is negative. B. marginal utility is diminishing. C. marginal utility is increasing. D. marginal utility is greater than the price of the good.
Which of the following is an example of natural monopoly?
A) cellular phone companies in a large city B) local water utility companies C) major league sports franchises in the largest cities D) All of the above are natural monopolies.