Today, in the United States, exports are about
A) 90 percent of GDP.
B) 12 percent of GDP.
C) 28 percent of GDP.
D) 4 percent of GDP.
Answer: B
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Based on the table below and the principle of diminishing returns to capital, then total packages wrapped when a fourth machine is installed must be less than ________ packages.Number of (Identical) MachinesTotal Packages Wrapped15,00029,000312,000
A. 3,000 B. 12,000 C. 4,000 D. 15,000
Commercial banks limit the adverse selection problem through ________
A) monitoring B) restrictive covenants C) screening D) moral hazard
Which of the following is TRUE of M2?
A) It is larger than M1. B) It excludes savings deposits. C) It does not include highly liquid components of the money supply. D) It is less than M1.
Governments can use public regulation to help solve information problems by:
A. mandating participation in a market or program. B. making screening illegal. C. mandating employers build a reputation before screening. D. All of these statements are true.