Consumption spending is said to make up about ______ to _______ of most countries spending.
A. 3/4, 7/8
B. 1/2, 2/3
C. 2/3, 3/4
D. 1/3, 1/2
C. 2/3, 3/4
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When the free-rider problem exists,
a. the market will devote too few resources to the production of the good. b. the cost of the good will always be more than the benefit of the good. c. the good will not be produced. d. entrepreneurs will eventually find a way to make free-riders pay their share.
Assuming the standard assumptions, in a repeated-play ultimatum game, the first player's best strategy in the last round is to:
A. split the money evenly with a bit more going to him or herself. B. take all the money for oneself. C. give the most money to the opponent. D. give the most money to oneself.
When the market for a good is in equilibrium,
What will be an ideal response?
What is the difference between physical capital and human capital?
What will be an ideal response?