Basic attributes of a society that permit citizens to trust in the functioning of its institutions are best summarized as
a. governance
b. social capital
c. shared growth
d. developmental state
e. all of the above
B
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An international lender of last resort creates a serious ________ problem because depositors and other creditors of banking institutions expect that they will be protected if a crisis occurs
A) moral hazard B) adverse selection C) public choice D) strategic choice
What economic concept is represented using the equation E(MB) > E(MC)?
a. comparative advantage b. net marginal benefit c. cost of marginal thinking d. rule of rational choice
Price discrimination is:
A. only illegal if it hurts consumers more than nondiscrimination. B. only illegal if used to lessen or eliminate competition. C. always illegal. D. always legal.
Table 7.2GDP for Newland?Nominal GDP(in billions of dollars)GDP deflatorCPI2001$5,900120.1128.320026,300123.0131.720036,800126.3136.5Based on Table 7.2, the rate of inflation between 2001 and 2002 using the CPI was
A. 2.65 percent. B. 3.40 percent. C. 2.58 percent. D. 2.02 percent.