Research by Richard Layard indicates that happiness
A) increases as output per capita increases.
B) decreases as output per capita increases.
C) does not change as output per capita changes.
D) appears to depend on people's relative incomes.
D
Economics
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If Table 12.2 represents all the investments available to the economy, the nominal interest rate is 10 percent and there is no inflation, what will be the level of investment in the economy?
A) $0 B) $200 C) $300 D) $500
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_____ refers to actions that one party in a transaction takes based on his private information and that affect the payoff to the other party
A) Negative externalities B) Moral hazard C) Positive externalities D) Bargaining
Economics