The experience of the Marcos Presidency in the Philippines in 1986 showed:
A. the importance of keeping the central bank independent from political pressure.
B. transparency is critical if people are going to trust a central bank.
C. published central bank balance sheets do not always reflect reality.
D. all of the answers given are correct.
Answer: D
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A "sequential game" is
A) another term for a repeated game. B) another term for a cooperative game. C) the term for a game in which individuals receive their payoffs at different times. D) the term for a game in which individuals do not commit to strategy choices at the same time. E) the term for a game in which each outcome occurs, one after the other, as the game is repeated over time.
Addictive substances such as tobacco have long-run demand that is more ______ than short-run demand. In other words, the consumption of addictive substances ______ price sensitive and raising prices ______ reduce consumption over time.
a. price elastic; is; will b. price inelastic; is; will c. price inelastic; is not; will not d. price elastic; is not; will not
Since 1970, federal expenditures by regulatory agencies have
A) remained constant. B) decreased slightly. C) increased dramatically. D) increased slightly.
The Framing Gallery frames posters and has total fixed costs of $1,000. The Framing Gallery is currently framing ________ posters if its average variable cost is $20 and its average total cost is $30.
A. 100 B. 5 C. 25 D. an indeterminate number of