Suppose a nation's population grows by 2 percent and, at the same time, its GDP grows by 5 percent. Approximately how fast will real GDP per person increase?

You want to run a difference-in-difference experiment with a price increase for the bacon cheeseburger item on your menu. If you are worried about "leakage" with your control group, a good comparison menu item would be

a. soft drink sales b. the bacon burger without cheese c. the bacon-lettuce-and-tomato sandwich d. the regular cheeseburger

An oligopoly using a maximin strategy must believe that the losses from underestimating a competitor's skill are worse than those from overestimating it

a. True b. False Indicate whether the statement is true or false