Refer to the figure below. Player B can infer that Player A will:
A. choose Up when B chooses Left and Down when B chooses Right.
B. always choose Up.
C. always choose Down.
D. choose Down when B chooses Left and choose Up when B chooses Right.
Answer: B
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Refer to Table 17-2. The marginal revenue product of labor from the third unit of labor is
A) $5,460. B) $1,560. C) $1,260. D) $780.
In the U.S. balance of payments, exports to Europe are recorded as a
a. a use of funds in the current account. b. negative item in the current account. c. capital inflow item. d. capital outflow item. e. None of the above
Monetary reform is a new monetary policy that includes:
a. the introduction of a new unit of currency. b. a reduction in borrowing. c. an increase in government spending. d. the issuing of more currency. e. an increase in taxes.
Lower real interest rates
a. tend to shift the consumption function upward. b. have no significant effect on consumption. c. tend to shift the consumption function downward. d. tend to move the consumer upward along the consumption function.