Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A.
B. A to C.
C. C to D.
D. B to D.
Answer: B
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Which of the following is not a characteristic of a battle of the sexes game?
A) Each player has a dominant strategy. B) Nash equilibria exist at every outcome where the players successfully coordinate. C) The two general outcomes are where players either coordinate with one another or they do not. D) The payoff for coordinating is higher than the payoff for not coordinating.
Economic information
a. is usually scarce and costly to acquire b. is usually available free to any decision maker c. is usually not required for rational decision making d. must be complete before any decision is made e. is usually useful only to governments
Which of the following is an example of microeconomic analysis?
a. impact of taxation on national income b. rate of increase in the national debt c. relationship between inflation and interest rates set by the Federal Reserve d. none of the above
Jackie, a Canadian citizen, works only in the United States. The value of the output she produces is
a. included in both U.S. GDP and U.S. GNP. b. included in U.S. GDP, but it is not included in U.S. GNP. c. included in U.S. GNP, but it is not included in U.S. GDP. d. included in neither U.S. GDP nor U.S. GNP.