Which of the following statements regarding the use of gold as money is false?
A) The money supply would be easy to control because of the predictability of new gold discoveries.
B) It is durable.
C) It has value other than money.
D) It is acceptable to traders.
Answer: A
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Refer to the payoff matrix below. If Cruise the World uses a mixed strategy, what probability for offering Specials should the firm use to equate Cruise R Us' expected profits from offering a Special or not offering a special (No Special)?
Cruise R Us and Cruise the World compete in the cruise line industry. Each firm needs to determine if they are going to offer special cruise packages with special rates or not offer the specials. The above payoff matrix shows the firms' net economic profit for each set of strategies.
A) 0.75 B) 0.375 C) 0.33 D) 0.625
The Keynesian-cross model is a complete macroeconomic model
a. True b. False Indicate whether the statement is true or false
Holding all else constant, in the short run, an increase in the money supply can cause a(n)
What will be an ideal response?
Oligopolists compete on price but not quality.
Answer the following statement true (T) or false (F)