The prospect of a recession in the United States would probably cause the dollar to
a. depreciate because interest rates would be expected to rise.
b. depreciate because imports would be expected to rise.
c. appreciate because imports would be expected to fall.
d. appreciate because interest rates would be expected to decrease.
c
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Economic progress is best measured by
A. the growth rate of prices over time. B. the growth rate of GDP per capita. C. the amount of working time needed for an individual worker to afford certain goods and services. D. the annual growth rate in the population.
A cartel usually has a collusive agreement to
A) restrict output. B) boost output. C) lower the price. D) increase the number of firms in the industry.
The Prisoners' Dilemma is a particular type of game in which negotiation and enforcement of binding contracts is not possible, and such games are known as:
A) cooperative games. B) noncooperative games. C) collusive games. D) Cournot games.
An increase in the value of the marginal product of labor has the effect of increasing the
a. demand for labor. b. wage. c. quantity of labor employed. d. All of the above are correct.