Who developed the school of thought known as utilitarianism?
a. Jeremy Bentham
b. Dean Karlan
c. Adam Smith
d. Karl Marx
a. Jeremy Bentham
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The most common measure of productivity shocks used by real business cycle theorists is
A. average labor productivity. B. the change in the capital stock. C. the Solow residual. D. unit labor costs.
In 2011, U.S. GDP was
A) $15 trillion using the expenditure approach. B) $15 trillion using the income approach. C) $15 trillion using the expenditure approach and $14 trillion using the income approach. D) $16 trillion using the income approach and $14 trillion using the expenditure approach. E) both A and B are correct.
The European Union is the oldest, largest, and most ambitious integration agreement in the world today
Indicate whether the statement is true or false
Between 1880 and 1886, prices that were
a. lower than expected transferred wealth from creditors to debtors. b. lower than expected transferred wealth from debtors to creditors. c. higher than expected transferred wealth from creditors to debtors. d. higher than expected transferred wealth from debtors to creditors.