What is meant by the term "outside lags"?
What will be an ideal response?
Outside lags refers to the time it takes for a stabilization policy to have an affect on an economy.
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Which of the following helps low-income countries grow rapidly relative to high-income countries?
A. Low-income countries are in a better position to save a larger share of their income. B. Low-income countries can employ technologies and practices that have been successful in high-income countries. C. Low-income countries generally have legal systems that protect property rights and enforce contracts in a more evenhanded manner. D. Low-income countries generally have more favorable weather conditions.
In general, as individuals undertake additional years of schooling,
A) their stock of human capital increases.
B) the marginal productivity of individuals as workers declines.
C) the marginal benefit to society of the extra years of education increases.
D) the marginal productivity of individuals as workers becomes negative.
In a Nash equilibrium, neither player wishes to unilaterally change his or her mind
Indicate whether the statement is true or false
Lily is a college student who likes to buy only two goods: Cheetos and Pepsi. To determine Lily's budget line, you need to know I. Lily's preferences for Cheetos and Pepsi. II. The prices of Cheetos and Pepsi. III. Lily's income
A) II only B) I and II C) II and III D) I, II and III