We can calculate how long a country will take to double its real GDP per capita using:
A. the GDP growth estimator.
B. its GDP deflator.
C. its average growth rate.
D. the CPI indexation factor.
Answer: C
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If a firm buys a delivery van for $18,000 and can resell it in 2 years for $7,500, the opportunity cost of using the van is
A) $10,500. B) $7,500. C) $18,000. D) $3,750.
Refer to the above figure. Suppose there are L4 workers in the union, and the union wants all of its workers to have a job. It will set the wage rate at
A) W1. B) W2. C) W3. D) W4.
A person believes that real equality can only exist when political equality is coupled with economic equality. This person believes that democratic means should be used to distribute wealth evely throughout society. This person is a:
a) socialist b) communist c) capitalist d) authorian
Refer to the following game.Firm AFirm B??Low PriceHigh Price?Low Price(9,10)(8,15)?High Price(-7,10)(11,11)What are the Nash equilibrium strategies for firm A and firm B respectively?
A. (low price, high price) B. (high price, high price) C. (low price, low price) D. (low price, low price) and (high price, high price)