If the GDP of Macroland is $250,000,000 and they have a population of 5,000 people, then the GDP per capita is:
A. quite high.
B. $5,000.
C. $1,250,000.
D. $50,000.
D. $50,000.
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Critics of government frequently assert that special interest groups favor transfer policies rather than economic growth policies.
Answer the following statement true (T) or false (F)
A(n) ________ in the riskiness of corporate bonds will ________ the price of corporate bonds and ________ the yield on corporate bonds, all else equal
A) increase; increase; increase B) increase; decrease; increase C) decrease; increase; increase D) decrease; decrease;decrease
An increase in the real interest rate
A) increases savings for both borrowers and lenders. B) increases savings for borrowers, but has an uncertain effect on the savings of lenders. C) increases savings for lenders, but has an uncertain effect on the savings of borrowers. D) has an uncertain effect on the savings of both borrowers and lenders.
A prisoner's dilemma can be described as a situation in which
a. a decision maker is uncertain about the potential punishment for something done in the past b. an individual decision maker finds it in his best interest to pursue a course of action that can lead to a less than desirable outcome for the group c. producers act so as to avoid maximizing profits because of government retaliation d. individual firms seeks to maximize their own profits with no regard for the group e. the summation of individual demand curves creates an inelastic demand curve facing the industry