Which group came out of World War I (1914–18) better off?
(a) Industrial and agricultural workers
(b) Creditors
(c) Individuals depending on investment
(d) People living on fixed incomes
(a)
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Suppose a comprehensive plan applies to 2,000 low-risk people and 1,000 high-risk people opting for insurance coverage. If the average claim submitted by low-risk people is $200 while that submitted by high-risk people is $2,000 . what would be the net benefit accrued by a high-risk person paying the break even premium charged by the insurance company?
a. -$300 b. $1,800 c. $1,200 d. -$400
If an economy's GDP falls, then it must be the case that the economy's
a. income falls and saving rises. b. income and saving both fall. c. income falls and expenditure rises. d. income and expenditure both fall.
The relationship between real GDP and nominal GDP can be expressed by:
A. real GDP = nominal GDP + inflation. B. percent change in real GDP = percent change in nominal GDP + inflation. C. percent change in real GDP = percent change in nominal GDP - inflation. D. real GDP = nominal GDP - inflation.
Which of the following is NOT considered to be a factor in the determination of a person's marginal productivity?
A) innate abilities such as high intelligence B) investment in human capital such as education C) on-the-job training D) the elasticity of supply of labor