Since price tends to equal total utility, the price of water is low and the price of diamonds is high
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following sets of categories correctly describes the categories of nonconsumption injections?
A) foreign imports, private domestic investment, government transfer payments B) capital consumption allowances, government transfer payments, net exports C) net exports, inventory accumulation, government transfer payments D) government purchases of goods and services, net exports, private domestic investment
To trust a potential cooperator until the first defection and then never cooperate thereafter is
a. a dominant strategy b. an irrational strategy c. a grim trigger strategy d. a non-cooperative finite game strategy e. a subgame imperfect strategy
According to a 1977 amendment to the Federal Reserve Act of 1913, what are the goals the Fed should promote?
Figure 17-4
In , the equilibrium price of Dominican pesos is Pe. If the Dominican Republic government fixes the price of foreign currency in terms of domestic currency at Pf (below equilibrium), what does the quantity Qd through Qs represent?
a.
the quantity of Dominican exports
b.
a shortage of foreign exchange
c.
the quantity of Dominican imports
d.
a surplus of foreign exchange