Which one of the following is a cash-assistance program used to fight poverty in the United States?
a. Medicaid
b. food stamps
c. home energy assistance
d. Head Start
e. Temporary Assistance to Needy Families
E
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If the real exchange rate rises 2%, domestic inflation is 3%, and foreign inflation is 1%, what is the percent change in the nominal exchange rate?
A) 6% B) 4% C) 2% D) 0%
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) There is one Nash equilibrium in this game.
B) There are three Nash equilibria in this game.
C) There are no Nash equilibria in this game.
D) There are two Nash equilibria in this game.
Beginning from a long run equilibrium in an increasing cost industry, if there is a substantial, permanent fall in demand for industry output:
a. firms will leave the industry, the quantity produced will fall, and prices will end up lower than their initial long run equilibrium level. b. firms will leave the industry, the quantity produced will fall, and prices will end up higher than their initial long run equilibrium level. c. firms will leave the industry, the quantity produced will fall, and prices will end up at the same level as their initial long run equilibrium level. d. firms will enter the industry, the quantity produced will rise, and prices will end up lower than their initial long run equilibrium level.
Budget projections for 2014-2020 indicate both higher levels of government spending and large budget deficits. According to the Keynesian view, this will lead to
a. an increase in aggregate supply during that decade. b. weak aggregate demand and a continuation of recessionary conditions. c. an increase in aggregate demand and real output. d. higher interest rates and taxes that will retard future growth.