A majority of states have a minimum wage that is higher than the federal minimum wage.
Answer the following statement true (T) or false (F)
True
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During the antebellum period, most international payments were made by
(a) shipping specie. (b) bills of exchange. (c) credit extended by private banks in the U.S. (d) all of the above.
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Cruise R Us and Cruise the World compete in the cruise line industry. Each firm needs to determine if they are going to offer special cruise packages with special rates or not offer the specials. The above payoff matrix shows the firms' net economic profit for each set of strategies.
A) Cruise R Us No Specials and Cruise the World No Specials is a Nash equilibrium.
B) There are no Nash equilibria in this game.
C) Cruise R Us Specials and Cruise the World No Specials is a Nash equilibrium.
D) Cruise R Us Specials and Cruise the World Specials is a Nash equilibrium.
Small savers would rather use financial institutions than lend directly to borrowers because:
A. lenders wouldn't want to deal with small savers. B. it allows them to diversify risk. C. the liquidity is lower with financial institutions but the return is higher. D. financial institutions will offer the savers higher interest rates than the savers could obtain directly from borrowers.
If international financial transactions are prohibited
A. exchange rates cannot remain fixed. B. borrowers in poorer countries will probably pay low interest rates. C. lenders in the richer countries will probably earn high rates of return. D. lenders in the richer countries will probably earn low rates of return.