Game theory is the study of ________
A) policy analysis
B) strategic interactions
C) program evaluation
D) irrational decision making
B
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In the short run, how is the nominal interest rate determined? If the nominal interest rate is less than the equilibrium nominal interest rate, what occurs?
What will be an ideal response?
In economics, the word "aggregate" refers to
A) the government. B) how individual households differ from each other. C) the public sector itself. D) an economy as a whole.
Relative to a no-trade situation, if the United States exported chairs, the domestic price of chairs
a. would rise, and domestic output would also rise. b. would decline, but the domestic output would rise. c. would decline, and domestic output would decline also. d. would rise, but domestic output would fall.
If the MPS in an economy is .4, government could shift the aggregate demand curve leftward by $50 billion by:
A. reducing government expenditures by $125 billion. B. reducing government expenditures by $20 billion. C. increasing taxes by $50 billion. D. increasing taxes by $250 billion.