A study of American economic history excludes a study of which of the following?
(a) Historical demography
(b) The love affairs and private relationships of U.S. presidents
(c) Development of market rules and regulations
(d) Development of government intervention in market affairs
(b)
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Refer to Figure 4.8. The game described in the payoff graph has the characteristics of a(n) ________ game
A) assurance B) prisoner's dilemma C) chicken D) pure coordination
If a Central Bank wished to increase the supply of money it should
(a) Raise the reserve requirement. (b) Raise the rate of discount. (c) Buy government bonds in the money market. (d) Do any or all of the above.
Disposable income reflects
A) Personal income after taxes. B) Income before taxes. C) Net income from business activity. D) None of the above.
If new firms enter the computer manufacturing industry, then, holding all other things constant,
A. each “old” manufacturer must sell fewer computers than before. B. some “old” manufacturers must exit the industry. C. the equilibrium price of computers will rise. D. the equilibrium quantity demanded of computers will rise.