The country of Yokovia does not trade with any other country. Its GDP is $20 billion. Its government collects $2 billion in taxes. Consumption equals $15 billion and investment equals $2 billion. What is public saving in Yokovia, and what is the value of the goods and services purchased by the government of Yokovia?
a. -$2 billion and $1 billion.
b. $1 billion and $1 billion.
c. -$1 billion and $3 billion.
d. -$2 billion and $3 billion.
c
Economics
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One interesting feature of a prisoner's dilemma game is that
A) non-cooperative behavior leads to lower payoffs than cooperative behavior. B) it was only valid before the industrial revolution. C) individuals behave irrationally when they behave non-cooperatively. D) cooperative behavior leads to lower payoffs than non-cooperative behavior.
Economics
An increase in the price of the output produced by labor will:
A. decrease the demand for labor. B. increase the supply of labor. C. increase the demand for labor. D. decrease the supply of labor.
Economics