This year, real GDP per person in Country A is eight times real GDP per person in Country B
If Country B's real GDP per person grows at a rate of 5 percent, about how many years will it take for Country B to reach the level of real GDP per person in Country A in this year?
A) 42 years
B) 56 years
C) 14 years
D) 28 years
E) It will never reach Country A's level of GDP per person.
A
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A risk premium
A) is required to get a risk-neutral person to make a fair bet. B) is the maximum amount needed to compensate a decision-maker to willingly take a risk. C) is the maximum amount a decision-maker would pay to avoid taking a risk. D) is the minimum amount a decision-maker would pay to avoid taking a risk.
The government giving the ownership of a pond to a citizen to reduce over fishing is a method to prevent _____
a. the free rider problem b. the tragedy of the commons c. asymmetric information d. deadweight loss