Author A accepts a $5,000 advance and a 10% royalty after 5,000 books are sold. Author B foregoes the advance and negotiates for a 15% royalty on all books sold. Author C decides to self publish his book and keep 50% of all sales revenue. In what order of risk aversion (from most to least) would you rank these authors?
A) Author A, Author B, Author C
B) Author A, Author C, Author B
C) Author B, Author A, Author C
D) Author C, Author B, Author A
A
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The closer we are to the production possibilities frontier and the farther away we are from the origin,
A. the more unemployment there is. B. the less unemployment there is. C. the only way to produce more guns will be to give up some butter production. D. the only way to produce more butter will be to give up some gun production.
The circular flow model illustrates
A. the interdependence of businesses and consumers. B. the importance of having a central plan for the economy. C. how natural and other resources are created. D. how money is created by the banking system.
A decrease in short-run aggregate supply ________ the equilibrium price level and ________ the equilibrium quantity of real GDP
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
There is no evidence that links changes in saving to changes in GDP
Indicate whether the statement is true or false