Most entrepreneurs do not have enough money of their own to start their businesses. When they acquire the necessary funds from someone else,
a. their consumption expenditures are being financed by someone else's saving.
b. their consumption expenditures are being financed by someone else's investment.
c. their investments are being financed by someone else's saving.
d. their saving is being financed by someone else's investment.
c
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 0.05 Mexican pesos. b. 0.05 U.S. dollars. c. 20 U.S. dollars. d. 20 Mexican pesos. e. 5 Mexican pesos.
Which statement uses the term ceteris paribus correctly?
A) If you exercise regularly, you will be healthier, ceteris paribus. B) Blue is to green, ceteris paribus, as red is to purple. C) Most people consider Sunday to be the first day of the week, ceteris paribus. D) Interest rates usually rise in October, ceteris paribus. E) a and d
Player 1 and Player 2 are playing a game in which Player 1 has the first move at A in the decision tree shown below. Once Player 1 has chosen either Up or Down, Player 2, who can see what Player 1 has chosen, must choose Up or Down at B or C. Both players know the payoffs at the end of each branch.
What is the equilibrium outcome of this game?
A. Player 1 and Player 2 both choose Down. B. Player 1 chooses Up and Player 2 chooses Down. C. Player 1 chooses Down and Player 2 chooses Up. D. Player 1 and Player 2 both choose Up.