An example of a payoff in a game would be:
A. winning an election.
B. a salary.
C. having clean drinking water.
D. All of these are examples of payoffs.
Answer: D
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If a job pays a wage of $50 per hour, but has a non-wage cost valued at $20 per hour, the net benefit of taking the job equals:
A) $2.5 per hour. B) $20 per hour. C) $30 per hour. D) $70 per hour.
What are net exports? How will an appreciation of the peso affect Mexico's net exports?
What will be an ideal response?
The transactions demand for money exists because:
a. people want to maintain a speculative cash reserve. b. people are insensitive to interest rate fluctuations and prefer to hoard money. c. people want to be prepared for unplanned emergency expenditures. d. people prefer cash over bank deposits. e. people do not receive their income at the same time they spend it.
In the United States during the period from 1870 to 1940, the price level was most likely to
a. fluctuate. b. increase. c. decrease. d. trend generally upward.