According to the World Bank, GDP per capita ________ in the least corrupt countries than in the most corrupt countries.
A) is more than 50 percent less
B) is roughly the same
C) is twice as high
D) is 10x higher
Answer: D) is 10x higher
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An investment of $10,000 promises a payment of $13,000 after six years. If the annual rate of interest is $8%, what is the net present value of the investment?
What will be an ideal response?
Economic profit is defined as
a. total revenue minus implicit costs b. total revenue plus explicit costs c. total revenue plus implicit costs d. wages plus interest minus rent e. total revenue minus implicit and explicit costs
According to William Shepherd's examination of competitive trends in the U.S. economy, a market is effectively competitive if
a. the top four firms supply more than 60 percent of the market, have stable market shares, and cooperate with each other b. the top four firms supply more than 60 percent of the market, have stable market shares, and compete with each other c. the industry exhibits low concentration, few barriers to entry, and little or no collusion d. the industry exhibits low concentration and little or no collusion, despite significant barriers to entry e. the dominant firm has two close rivals
A preannounced contractionary money policy is more likely to create unemployment when people have rational, rather than adaptive, expectations
a. True b. False Indicate whether the statement is true or false