When a government partially defaults its debt, a "haircut" of 20% means that
A) creditors receive 20% of what they owed.
B) creditors receive 80% of what they owed.
C) creditors receive 40% of what they owed.
D) creditors receive 10% of what they owed.
B
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The equilibrium in the prisoner's dilemma is a dominant strategy Nash equilibrium
Indicate whether the statement is true or false
Critics of the U.S. definition of poverty claim that:
A. it is set too low, because of higher food prices relative to essential goods and services. B. it is set too high, because of lower food prices relative to essential goods and services. C. it is set too low, because of lower food prices relative to essential goods and services. D. it is set too high, because of higher food prices relative to essential goods and services.
Which of these examples is an example of price discrimination?
A. Seniors pay one price at the movie theater and adults pay more. B. Cereal manufacturers put discount coupons inside their cereal boxes. C. Wholesale prices differ from retail prices. D. Goods are marked down on sale.
If the price of an item can freely adjust, a market will
A. always have an excess quantity demanded. B. always move towards equilibrium. C. never move towards equilibrium because prices are always increasing. D. always have an excess quantity supplied.