Decision trees are commonly used to illustrate how firms make business decisions that depend on the actions of rival firms. A decision tree has boxes that contain points that represent when firms must make the decisions contained in the boxes
What are these points called?
A) decision options B) decision nodes
C) option points D) either-or terminals
B
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The purchase of a foreign asset by a U.S. resident is a
A) surplus item on the financial account. B) deficit item on the current account. C) deficit item on the financial account. D) surplus item on the current account.
Lengthening of the average unemployment spell suggests that ________ unemployment is growing in importance
A) frictional B) structural C) cyclical D) turnover
Which of the following best describes trends in unionization and immigration in the 1920s?
a. Immigration was restricted and unions decreased b. Immigration was encouraged and unions increased c. Immigration was encouraged while the number of union members decreased d. Immigration was discouraged while the number of union members increased
Every resource has its price. The price of loanable funds is expressed as
a. the dollar amount of the loanable funds needed to buy capital b. the dollar amount of the new equipment purchased c. the percentage of profit from the added capital d. a rate of interest e. the extra output from adding capital