Which of the following programs is on-budget?
A. Social Security
B. Student loans
C. The post office
D. Medicare
Answer: B
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The payments in return for labor and capital are _____, respectively.
a. ?profit and rent b. ?rent and wages c. ?interest and profit d. ?wages and interest e. ?profit and wages
An important foundation of the new growth theory is that
A) we will get more technological advances when the rewards for producing them are greater. B) the growth rate of the capital stock is more important than the growth rate of new knowledge in generating economic growth. C) we will get more technological advances the more the government is involved. D) improvements in labor productivity are poor measures of technological growth.
Given the budget line in the above figure, if income is $60, then the price of a pizza is ________ and the price of a CD is ________
A) $5; $20 B) $6; $4 C) $15; 15 D) $10; $15
Stan, who is risk averse, can invest in project A or project B. Project A returns $3,000 with probability 1/2 and $9,000 with probability 1/2. Project B returns nothing with probability 1/2 and $12,000 with probability 1/2. For Stan, project A has
A) greater expected wealth and greater expected utility than project B. B) lower expected wealth and lower expected utility than project B. C) the same expected wealth and the same expected utility as project B. D) the same expected wealth but higher expected utility than project B.