We say that money is a store of value because it represents:
A. a standard unit of comparison.
B. a certain amount of purchasing power held over time.
C. something you can directly offer, like any good or service, in exchange for some good or service you want.
D. something you can use to purchase goods and services.
Answer: B
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In a Nash equilibrium, neither player wishes to unilaterally change his or her mind
Indicate whether the statement is true or false
Monopoly is characterized by
A) unique products. B) market entry and exit are difficult or impossible. C) non-price competition not necessary. D) All of the above
A point outside the production possibilities frontier
a. represents unemployment of resources b. represents full employment of resources c. would not represent an efficient combination of goods d. cannot be reached using the available technology e. is less desirable than one that lies inside the frontier
Other things equal, a 10 percent decrease in corporate income taxes will:
A. decrease the market price of real capital goods. B. have no effect on the location of the investment-demand curve. C. shift the investment-demand curve to the right. D. shift the investment-demand curve to the left.