Connecting public roads in one city to public roads in another is an example of a _____ problem where larger governments can help smaller governments
a. negative externalities
b. economies of scale
c. prisoners' dilemma
d. coordination problem
d
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Suppose GDP ________ the level of potential output. We would expect to see ________ unemployment, rising wages, and rising prices.
A. exceeds; low B. is? below; low C. is? below; high D. exceeds; high
The circular flow shows that
A) aggregate production equals aggregate expenditure. B) aggregate expenditure is less than aggregate income. C) GDP equals aggregate income. D) Both answers A and C are correct.
It's impossible to sustain economic growth or development in the absence of:
A. a rule of law. B. improvements in education. C. membership to world organizations, like the United Nations. D. income equality.
Table 10.1 shows the cash flows and discounted cash flows for three mutually exclusive projects available to a company. Assume an interest rate of 5%. Which project has the highest internal rate of return?
A. Project A
B. Project B
C. Project C
D. It cannot be determined from the information given.