Behaving strategically:
A. is an essential part of game theory.
B. means recognizing that the actions of others will affect the trade-offs you face, and acting accordingly.
C. involves rational decision making.
D. All of these statements are true.
Answer: D
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The federal government employs more civilians than state and local governments.
Answer the following statement true (T) or false (F)
The table above shows some of the costs for a perfectly competitive firm. If the price is $160 per unit, how many units of output will the firm produce?
A) 8 B) 9 C) 10 D) more than 10
Refer to Figure 5-1. Marginal social benefit is represented by which curve?
A) Supply B) D1 C) D2 D) All of the above represent marginal social benefit.
One mechanism through which increasing public debt may impact the economy is that the resulting
A. increased competition for funds increases interest rates and causes a reduction in investment. B. decreased competition for funds decreases interest rates and causes an increase in investment. C. increased competition for funds decreases interest rates and causes an increase in investment. D. decreased competition for funds decreases interest rates and causes a reduction in investment.