A game in which players want to coordinate on an outcome and in which both agree that coordinating on one particular outcome is preferred to coordinating on the other is called
A) an assurance game.
B) a pure coordination game.
C) a battle of the sexes game.
D) a chicken game.
A
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Consider an economy that only produces wooden chairs. In 2012, the economy produced 100 wooden chairs priced at $10 each. The nominal GDP of the economy for the year 2012 will be:
A) $10. B) $1,000. C) $100. D) $10,000. Consider an economy that produces only cell phones. In the year 2012, the economy manufactures 275 cell phones, and each cell phone sells at $200. In the year 2013, the economy manufactures 280 cell phones but the price of each cell phone falls to $180.
If the interest rate is 20 percent, the present value of $10,000 to be received 20 years from today is about
A) $6,944. B) $14,400. C) $383,376. D) $261.
If consumers value the product-specific services for a new smartphone at $25, if retailers offer the product-specific services for the smartphone, the market ________ will ________.
A) supply; parallel shift to the right by $25 B) demand; parallel shift to the right by $25 C) demand; parallel shift to the left by $25 D) demand; parallel shift to the right by less than $25
A nation's balance of payments is the accounting record of all economic transactions between its residents and residents of the rest of the world
Indicate whether the statement is true or false