Which statement is true?
A. The United States' economy is larger than Japan's and the United States' population is larger than Japan's.
B. The United States' economy is smaller than Japan's and The United States' population is smaller than Japan's.
C. The United States' economy is larger than Japan's and The United States' population is smaller than Japan's.
D. The United States' economy is smaller than Japan's and The United States' population is larger than Japan's.
A. The United States' economy is larger than Japan's and the United States' population is larger than Japan's.
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If the United States and Canada trade hydro-powered electricity for Hollywood films, what type of trade does this represent?
What will be an ideal response?
Refer to Figure a. Charlie and Joe both want to ride shotgun with their mother, so they play a game of rock-paper-scissors to determine who gets to sit in the front seat. If -1 represents a loss, 1 a win and 0 a tie, and Joe's payoff is shown in the upper left-hand corner of each cell, while Charlie's appears in the lower right-hand corner, which set of rules is illustrated in the following payoff matrix?
A. Rock tears paper, paper covers scissors, scissors clip rock
B. Rock crushes scissors, scissors cuts paper, paper covers rock
C. Rock crushes scissors, scissors cuts paper, scissors clip rock
D. Rock tears paper, paper covers scissors, paper covers rock
Prices do not necessarily tend toward equilibrium and are subject to fits of change when a market is
a. a natural monopoly b. an unbalanced oligopoly c. monopolistically competitive d. in a long-run situation e. an oligopoly using game theory strategies
If their only concern were the cost of issuing municipal debt, how would you expect the mayors of most U.S. cities to respond to a revenue-neutral change in the federal income tax that sharply lowered the top marginal tax rate?
A. No reaction, this should have no impact on municipal bonds at all. B. Favorably, the price of municipal bonds should increase and their yields fall. C. Unfavorably, the demand for municipal bonds will fall and their yields will increase. D. Favorably, since this will significantly increase the demand for municipal bonds.