In a zero-sum game, one player's winnings equal the other player's losses
Indicate whether the statement is true or false
TRUE
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Fractional reserve banking is the system that
A) allows banks not to insure their deposits. B) allows banks not to join the Federal Reserve System. C) limits banks' activities from crossing state lines. D) allows banks to keep smaller reserves than their deposits.
An increase in the demand for houses
a. increases the equilibrium wage of carpenters and increases the value of carpenters' marginal product of labor. b. increases the equilibrium wage of carpenters and decreases the value of carpenters' marginal product of labor. c. decreases the equilibrium wage of carpenters and increases the value of carpenters' marginal product of labor. d. decreases the equilibrium wage of carpenters and decreases the value of carpenters' marginal product of labor.
Suppose the natural rate of unemployment is 4 percent. What is the actual rate of unemployment if actual output is 2 percent above potential output?
A. 3 percent B. 6 percent C. 2 percent D. 0 percent
Goods A and B are complementary goods. A decrease in price of good A has occurred. In the market for good B, this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.