The ________ the reserve ratio, the ________ the money multiplier
A) larger; larger B) smaller; smaller
C) smaller; larger D) None of the above are correct.
C
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The marginal benefit from a good is the amount a person is willing to pay for
A) all of the good the person consumes. B) one more unit of the good. C) all of the units of the good the person consumes divided by the number of units he or she purchases. D) one more unit of the good divided by the number of units purchased.
Refer to the scenario above. Which of the following is likely to be true if Joe is known to be trustworthy?
A) Multiple equilibria will occur. B) A Nash equilibrium will occur. C) A socially inefficient equilibrium will occur. D) A dominant strategy equilibrium will occur.
The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, what happens if the government imposes a $20 per firm tax on firms that service this route?
A) Neither firm has a dominant strategy. B) Not entering is a dominant strategy for both firms. C) Neither firm entering is a Nash equilibrium. D) Only firm A will enter.
Refer to Scenario 3.1 below to answer the question(s) that follow.SCENARIO 3.1-Streaming movies and movies shown in theaters are substitutes. -Streaming movies and OLED TVs are complements. -OLED TVs and movies shown in theaters are normal goods. -People watch streaming movies more often in the winter than in the summer.Refer to Scenario 3.1. Most OLED TVs sold in the United States are imported from Asia. If the United States government reduces the number of OLED TVs that can be imported into the United States, ceteris paribus, what would happen?
A. The price of OLED TVs and the price of streaming movies would increase. B. The price of OLED TVs and the price of streaming movies would decrease. C. The price of OLED TVs would decrease, and the price of streaming movies would increase. D. The price of OLED TVs would increase, and the price of streaming movies would decrease.