Under which of the following circumstances is the principal-agent problem likely to be most serious
a. Between general practitioners and patients.
b. Between surgeons and patients.
c. Between hospitals and nurses.
d. Between dentists and physicians.
e. Between physicians and lawyers.
B
Economics
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Suppose in 2001, nominal GDP in Russia was 1000 rubles. If 2000 is the base year and the GDP deflator for 2001 was 0.50 (highly unlikely as is the GDP of 1000 rubles!), Russia's real GDP in 2001 was
a. –1,000 rubles b. 10,000 rubles c. 500 rubles d. 1000 rubles e. 2000 rubles
Economics
For which of the following purchases would the absolute price elasticity of demand be greatest?
A) a luxury sedan B) utilities C) chewing gum D) a smartphone
Economics