In 2013, the U.S. spent more on research and development than any other country in the world
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the following statement(s) true (T) or false (F)
1. The Prisoners' Dilemma game is another situation where the Invisible Hand Theorem is true. 2. The Axelrod study shows that "Tit-for-Tat" is a successful strategy for playing a repeated Prisoners' Dilemma game. 3. The Peltzman study shows consumers overall have benefited from the requirement that drug manufacturers prove the safety and effectiveness of their products. 4. Consumers will be better off when the government imposes minimum quality standards. 5. The Stigler and Friedland study shows that regulation always has significant effects on price, although those effects may be positive or negative.
The expenditure approach measures GDP by adding
A) compensation of employees, rental income, corporate profits, net interest, and proprietors' income. B) compensation of employees, rental income, corporate profits, net interest, proprietors' income, subsidies paid by the government, indirect taxes paid, and depreciation. C) compensation of employees, rental income, corporate profits, net interest, proprietors' income, indirect taxes paid, and depreciation and subtracting subsidies paid by the government. D) consumption expenditure, gross private domestic investment, net exports of goods and services, and government expenditure on goods and services.
Friedman's theory of money demand differs from Keynes' in that
a. Friedman assumes that the demand for money is highly elastic while Keynes assumes money demand is inelastic. b. Friedman assumes that the money demand function is highly stable while Keynes assumes it is unstable. c. Friedman assumes that there is only a speculative demand for money while Keynes also considers the precautionary and transactionary demands for money. d. Friedman assumes that the proportion of income held in the form of money is constant while Keynes believes it varies. e. both b and d.
According to a study of the "beauty premium," how do the wages of people with average looks compare to those of people considered less attractive than average?