Behavioral game theory assumes
A) people act rationally.
B) people are subject to biases that cause them to act irrationally.
C) that people behave differently when playing games than when "playing for real."
D) people optimize using all available information.
B
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A tax is imposed on wine. Sellers will bear no burden from this tax if the: a. demand for wine is perfectly inelastic
b. demand for wine is perfectly elastic. c. demand for wine is unit elastic. d. supply curve for wine is perfectly inelastic.
Actual reserves minus required reserves equals
A. the required reserve ratio. B. actual reserves. C. vault cash plus deposits at Fed District Banks. D. excess reserves.
In economics, the term physical capital
A. refers to the stock of merchandise already produced. B. refers to funds used by businesses to acquire goods and services. C. refers to the process of raising funds through the stock market. D. refers to all manufactured resources used for production.
Answer the following questions true (T) or false (F)
1. The slope of the investment function for the economy is called the marginal interest sensitivity of investment. 2. Contractionary fiscal policy will shift the aggregate demand curve to the left. 3. Increasing the discount makes it more expensive for commercial banks to borrow reserves at a Federal Reserve District Bank discount window.