Which of the following decreases the demand for money?
A) an increase in the price level
B) an increase in the quantity of money
C) a decrease in real GDP
D) a decrease in the cost of printing money
C
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Refer to the scenario above. Which of the following is likely to be true if the game is played only once?
A) The equilibrium outcome will be a Nash. B) The equilibrium outcome will be socially inefficient. C) No unique equilibrium will occur. D) Multiple Nash equilibria will occur.
Refer to Table 6-3. Over what range of prices is the demand elastic?
A) between $8 and $16 B) between $14 and $16 C) over the entire range of prices D) between $2 and $8
If the contribution from capital and labor growth in a given economy equals 4.0 percent and output growth equals 6.4 percent over that same period of time, then productivity growth must equal ________
A) 25.6 percent B) 10.4 percent C) 2.4 percent D) 1.6 percent
One major consequence of the overconfidence effect is that:
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure C. Bad decisions can be made because people will act without pausing to see whether their intuition is correct or not D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments