Which of the following abilities should an economic model possess?
a. It should lower the time cost of information collection.
b. It should help individuals to discern the information that matters for a problem.
c. It should be able to process both untrue or impossible to verify information as well as correct information in the data set.
d. It should suggest accurate solutions for a problem.
B
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When cash is deposited in a checkable-deposit account at a bank, there is a(n)
A. increase in the bank's liabilities. B. increase in the money supply M1. C. decrease in the money supply M1. D. increase in the bank's net worth.
In a three-player game, if a player's best choice depends on the choices made by the other two players, then the player does not have a dominant strategy
Indicate whether the statement is true or false
Which group of countries benefits most from trade?
a. low-income countries b. low- and medium-income countries c. high-income countries d. medium- and high-income countries
When taxation is proportional, the tax rate an individual pays:
A. remains constant as the individual's income increases. B. falls as the individual's income increases. C. increases as the individual's income increases. D. varies as the individual's income changes.