Microeconomics is the study of how households and firms make decisions and how they interact in specific markets
a. True
b. False
Indicate whether the statement is true or false
True
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The interest rate that banks charge on loans to their best customers is called the:
A) federal funds rate. B) discount rate. C) mortgage interest rate. D) prime rate.
Given the payoffs in the matrix shown, Firm A:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. has a dominant strategy to compete.
B. does not have a dominant strategy.
C. has a dominant strategy to collude.
D. None of these statements is true.
To understand most of today’s economic activity in the U.S. economy, we should look at which of the following models?
A. Perfect competition and pure monopoly B. Perfect competition and oligopoly C. Oligopoly and monopolistic competition D. Monopolistic competition and monopoly
An insolvent bank's assets are worth less than its liabilities
a. True b. False Indicate whether the statement is true or false