The prisoner's dilemma is an example of:
a. A sequential game
b. A non-cooperative game.
c. A shirking game
d. A dating game
b
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Suppose the government of a large open economy reduces its spending, so that national saving increases. The result is
A) a decrease in the foreign country's net exports. B) an increase in the real interest rate. C) an increase in the foreign country's net exports. D) a decrease in investment.
Suppose that the quantity of good y is measured along the vertical axis and that the quantity of good x is measured along the horizontal axis. If the price of good x is $5 and the price of good y is $10 when income is $200 per time period, the slope of the consumer's budget constraint will be
A. -0.5. B. -5. C. -2. D. -10.
Which of the following would cause the labor demand curve to shift to the right?
A. an increase in labor productivity B. an increase in the price of a complimentary resource C. a decrease in demand for the product the labor is used to produce D. a decrease in output price
If the price of gasoline has increased from $3 per gallon to $4 per gallon at the same time that the overall price index increased from 200 to 300, then you know that the inflation adjusted price of gasoline has
A. decreased. B. remained constant. C. increased.