Refer to Figure 4.8. If half of your friends go to the beach and half go to the park, you will receive a payoff of ________ if you go to the beach
A) 0
B) 250
C) 500
D) You cannot determine your payoff because the figure represents your payoff from going to the park.
B
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Final goods and services refer to ________.
A. goods and services that are unsold and therefore added to inventories B. goods and services purchased by ultimate users, rather than for resale or further processing C. goods and services whose value has been adjusted for changes in the price level D. the excess of U.S. exports over U.S. imports
A single-price monopoly with the same market demand and cost structure as a perfectly competitive market will produce
a. the same output level at the same price as the perfectly competitive market b. less because the monopolist will not produce all units for which marginal revenue exceeds its marginal cost c. less since the monopolist's marginal revenue curve lies below its demand curve d. more because the monopolist will be more efficient e. more because the monopolist's marginal cost curve slopes upward
Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and current international transactions in the context of the Three-Sector-Model?
a. The GDP Price Index and current international transactions remain the same. b. The GDP Price Index falls, and current international transactions become more negative (or less positive). c. The GDP Price Index rises, and current international transactions becomes more negative (or less positive). d. The GDP Price Index rises, and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Suppose a bank has $200,000 in deposits, a reserve ratio of 10 percent, and reserves of $45,000. This bank has excess reserves of:
A. $155,000. B. $25,000. C. $10,000. D. $5,000.