Negotiations and binding contracts are not possible between rivals in
A. cooperative games.
B. perfect competition
C. single-firm monopolies.
D. noncooperative games.
Answer: D
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Which of the following is not an example of price discrimination?
a. Senior citizen discount at the movies b. Grocery coupons c. Shipping a package further costs more d. Charging a higher price for ice-cream during the summer and a lower price in the winter
Crowding out results in a decrease in
A) transfer payments. B) defense spending. C) private spending. D) government spending.
Prior to the housing crisis of 2008, the federal government had been trying to ______ lending standards for low income people to ______ home ownership.
a. raise; decrease b. raise; increase c. lower; decrease d. lower; increase
If you accept the rational expectations hypothesis as accurate, what would you tell monetary policy makers who ask you how to more effectively manage the economy?
A. Only unanticipated policies will be effective once individuals understand how monetary policy works. B. Individuals base their economic expectations solely on current information, so repeating policy decisions that have worked in the past is the most effective path to take. C. Individuals do understand how monetary policy works, so consistency and predictability are the keys to effective policy making. D. Consumers do not understand the workings of monetary policy, so discretionary and nondiscretionary policies are equally effective.