__________________ is attained when the maximum possible output of any one good is produced, given the output of other goods.
A. Productive efficiency
B. Economic growth
C. Opportunity cost
D. Employment discrimination
A. Productive efficiency
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Mexico and the members of OPEC produce crude oil. Realizing that it would be in their best interests to form an agreement on production goals, a meeting is arranged and an informal, verbal agreement is reached. If both Mexico and OPEC abide by the agreement, then OPEC's profit will be $200 million and Mexico's profit will be $100 million. If both Mexico and OPEC cheat on the agreement, then OPEC's profit will be $175 million and Mexico's profit will be $80 million. If only OPEC cheats, then OPEC's profit will be $185 million, and Mexico's profit will be $60 million. If only Mexico cheats, then Mexico's profit will be $110 million, and OPEC's profit will be $150 million. You may find it helpful to fill in the payoff matrix below. src="https://sciemce.com/media/4/ppg__rrr0818190951__f1q380g1.jpg" alt="" style="vertical-align: 0.0px;" height="203" width="377" />To Mexico, the payoff to cheating is either:
A. $80 million or $110 million.
B. $150 million or $200 million.
C. $100 million or $110 million.
D. $60 million or $100 million.
If autonomous consumption decreases, which of the following would occur in the short run?
a. a decrease in GDP, a decrease in the price level, a decrease in money demand and a decrease in the interest rate. b. an increase in GDP, an increase in the price level, an increase in money demand and an increase in the interest rate. c. a decrease in GDP, an increase in the price level, an increase in money demand and an increase in the interest rate. d. an increase in GDP, a decrease in the price level, a decrease in money demand and an increase in the interest rate. e. a decrease in GDP, a decrease in the price level, an increase in money demand and an increase in the interest rate.
Suppose that a five-year Treasury bond pays 2.5 percent and a five-year corporate bond pays 8.5 percent, then what is the interest rate spread on this particular corporate bond?
A. 5 percent B. 6 percent C. 7.5 percent D. 9.0 percent
Under a fixed exchange rate regime, what will happen to the balance of payments for the United States and Mexico when the demand for Mexican goods rises? What is the only possible solution to this problem, given the fixed exchange rate?
What will be an ideal response?