The story of the prisoners' dilemma contains a general lesson that applies to any group trying to maintain cooperation among its members
a. True
b. False
Indicate whether the statement is true or false
True
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Investment and saving decisions are assumed by economists to depend on the ________ interest rate
A) expected nominal B) nominal C) expected real D) real
Which of the following is true in the long run? a. The aggregate demand curve determines the level of potential output
b. The long-run aggregate supply curve is horizontal. c. The actual price level and the expected price level are equal. d. Cyclical unemployment is between 5 percent and 6 percent. e. The price level is determined entirely by the long-run aggregate supply curve.
Firms violating antitrust laws are likely to be sued by the federal government, but not by rival firms.
Answer the following statement true (T) or false (F)
Average propensity to consume
A. is the same as the break-even point. B. is the proportion of total disposable income that is consumed. C. is the amount of consumption that is independent of the level of disposable income. D. gives the amount a person changes planned consumption for a change in real disposable income.