Who won a Nobel Prize in economics for his work in the development of game theory?
A) John Nash B) Oskar Morgenstern
C) Howard Schultz D) John von Neuman
A
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Economic profit is the difference between a firm's revenue and its opportunity costs
Indicate whether the statement is true or false
Refer to Figure 28-2. The nonaccelerating inflation rate of unemployment, or NAIRU, is associated with which point rate in the figure above?
A) A B) B C) C D) all of the above
A requirement that the budget be balanced in each calendar year is a misguided overreaction to the fear that in some cases
a. budget surpluses can become too large. b. budget deficits can become too large. c. interest rates would rise. d. interest rates would fall.
On the diagram to the right a movement from A to B (downward movement on the demand curve) represents a
A. decrease in demand B. change in demand C. change in quantity demanded D. movement up the demand curve