Consider Figure 12.5. If player B confesses and player A does not, then:
A. both players spend 4 years in jail.
B. both players spend 1 year in jail.
C. player A spends 0 years in jail, and player B spends 8 years in jail.
D. player A spends 8 years in jail, and player B spends 0 years in jail.
Answer: D
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If a country of 300 million people has a total income of $12 trillion, its per capita income is:
a) $36,000 b) $40,000 c) $360.000 d) $400,000
The firm's maximum profit will be
A. $900.
B. $1,800.
C. $3,360.
D. $5,400.
Two-dimensional graphs have a horizontal and a vertical axis and are used in economics to illustrate
A) relationships between two economic variables. B) one variable. C) a flow chart. D) a pie chart.
Private disposable income equals
A. national income - taxes + transfers + interest. B. GNP - taxes + transfers + interest. C. national income - taxes - transfers + interest. D. NNP - taxes + transfers + interest.