A government budget deficit occurs when government expenditures are:
A. less than government revenues.
B. decreasing and government revenues are decreasing.
C. greater than government revenues.
D. increasing and government revenues are increasing.
Answer: C
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A game in which both players want to coordinate, but each player prefers coordinating on a different outcome is called
A) an assurance game. B) a pure coordination game. C) a battle of the sexes game. D) a chicken game.
A weighted output maximization could serve as a reasonable pricing guideline
Indicate whether the statement is true or false
Tom borrows $100,000 from his local bank to purchase inventory for his store for the upcoming holiday season. Tom's neighbor tells him about a get-rich-quick scheme that can take this $100,000 and triple it in a month. Tom decides to buy into this scheme figuring he can repay the bank and still have plenty left for inventory. This is an example of:
A. diversification. B. sound risk analysis on Tom's part. C. moral hazard. D. adverse selection.
The term "market" refers to trading arrangements by which buyers and sellers come together
Indicate whether the statement is true or false