Refer to the scenario above. Which of the following will happen in equilibrium if the car dealer has a reputation of trustworthiness?
A) You will trust him and he will cooperate.
B) You will trust him and he will defect.
C) You will not trust him.
D) You will earn positive consumer surplus.
A
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Real interest rates are the
A) interest rates quoted in the market. B) interest rates quoted in the market plus the expected inflation rate. C) nominal interest rates plus the inflation rate. D) interest rates quoted in the market minus the inflation rate.
A country has a government sector deficit and a private sector surplus. If the government sector deficit increases, and the private sector surplus decreases, then ________
A) net exports decrease or remain constant B) net exports increase C) net exports increase, decrease, or remain constant D) net exports decrease
Payments to nonowners of a firm are called:
a. implicit costs. b. accounting costs. c. explicit costs. d. economic costs.
The equation for determining real GDP for year X is:
A. 
B. 
C. 
D. 