The diagram used to show one player's strategies across the top and the other player's strategies along the left, with the corresponding outcomes in the appropriate boxes is a
a. game matrix.
b. flow chart.
c. mixed strategy.
d. an oligopoly problem.
a. game matrix.
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You are sick and tired of your old wardrobe. You decide to donate it to a charity of your choice. Your action
a. Creates wealth by moving the clothes from lower value use to higher value use b. Destroys wealth since you lose your clothes c. Creates wealth by making you feel richer d. All of the above
Which of the following is a characteristic of pure capitalism?
a. all resources are owned communally b. economic activity is coordinated by government decision makers c. the price system is used to guide resources to their highest-valued uses d. centralized economic planning is used to answer the basic economic questions e. individual choices are reflected only through collective decisions
Which of the following tests is used to compare the Ordinary Least Squares (OLS) estimates and the Weighted Least Squares (WLS) estimates?
A. The White test B. The Hausman test C. The Durbin-Watson test D. The Breusch-Godfrey test
Equilibrium GDP on the demand side occurs when total spending
A. equals total production, and inventories are zero. B. equals total production, and firms are unable to adjust inventories. C. exceeds total production, and inventories are rising. D. equals total production, and inventories remain at desired levels. E. is less than total production, and inventories are falling.