Saturn County Savings and Loan has liabilities of $400,000 and net worth of $125,000. Saturn County Savings and Loan's assets are
A. $525,000.
B. $400,000.
C. $275,000.
D. $125,000.
Answer: A
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In classical growth theory, if real GDP per person is above the subsistence level,
A) population grows and lowers real GDP per person to its subsistence level. B) the pursuit of profit will cause economic growth to accelerate. C) technological growth occurs and keeps real GDP per person above its subsistence level. D) the economy will keep growing without limit. E) None of the above is correct because the classical growth theory asserts that real GDP per person can never exceed the subsistence level.
A Nash equilibrium is
A) reached when an oligopoly's market demand and supply intersect. B) reached when each player chooses the best strategy for himself and for the group. C) an equilibrium comprising non-dominant strategies only. D) reached when each player chooses the best strategy for himself, given the other strategies chosen by the other players in the group.
Which of the following helps economists avoid double counting in computing of GDP?
a. Including goods and services produced only within a given area. b. Only include transfer payments made by the government and not individuals. c. Only include capital purchases by corporations and not by family-owned firms. d. Avoiding the use of intermediate goods in calculating GDP.
The managers of government bureaucracies have an incentive to _____
a. maximize the size of their budgets b. minimize the size of their staff c. maximize the profits from their bureaus d. minimize rent-seeking