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The marshmallow effect shows the benefit of immediate returns eating healthy                   delayed gratification         investing in education

Goods that are included in the production of final goods but not included in GDP are known as intermediate  complementary  incomplete                 manufacture

What are economists general view on foreign aid? 1. It works for most countries but only up to a certain extent 2. It benefits the country who gives money more than the one that receives 3. It is essential for very poor countries  4. It generally does not help the poor countries in the long term

If the GDP deflator is less than ______, we know prices have fallen.

The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2013.   Year Price of Waffles Quantity of Waffles Price of Pancakes Quantity of Pancakes 2010 $2.00 80 $1.00 100 2011 $2.00 100 $2.00 120 2012 $2.00 120 $3.00 150 2013 $4.00 150 $3.00 200   In 2010, this country’s nominal GDP was $260. $440. $620. $760.

Which of these economist views did Thanos support when he destroyed half the worlds population due to worries about overpopulation? 1. Adam Smith 2. Karl Marx 3. Henry Ford 4. Thomas Malthus

Which of these is a main issue with countries investing in education? 1. Brain Drain 2. Skill Limitation 3. Resource Depletion 4. Risk Aversion

If real GDP increased by 10% and nominal GDP increased by 15%, the country experience _____% of inflation.  

What is a problem with CPI? It does not measure improvements in quality from previous years it assumes people purchase different amounts every year It measures too many categories It only measures new products that have been created.

When the price of an eBook is $15.00, the quantity demanded is 400 eBooks per day. When the price falls to $10.00, the quantity demanded increases to 1200. Given this information and using the midpoint method, we know that the demand for eBooks is inelastic elastic unit perfectly