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In an experiment that employed the dictator game, economists at Cornell University gave student "allocators" the option of dividing $20 in only two ways (a) $18 for themselves and $2 to another student, or (b) $10 for themselves and $10 to another student.What was one result from this experiment?
Human Development Index
An index measuring three basic dimensions of human development: life expectancy, education, and per capita income indicators, used to rank countries into tiers of human development.
Purchasing Power Parity
An economic theory that compares different countries' currencies through a "basket of goods" approach, to assess the relative value of the currencies and the cost of living.
Consumer Price Index
An index measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Reserve Requirement
The minimum amount of funds that a bank must hold in reserve against deposits, as mandated by central banking authorities.
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