According to Keynes, at equilibrium, aggregate demand will always equal which of the following?
A. Aggregate supply
B. C + S
C. C + I
D. All of the choices are correct.
D. All of the choices are correct.
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The current supervisory practice toward risk management
A) focuses on the quality of a bank's balance sheet. B) determines whether capital requirements have been met. C) evaluates the soundness of a bank's risk-management process. D) focuses on eliminating all risk.
Refer to the table below for a prisoner’s dilemma. Frank and George are arrested and charged with armed robbery. They are isolated in separate interrogation rooms and therefore are not allowed to engage in collusion to collectively deny committing the crime. The table shows the four possible outcomes for denial and confession for Frank and George. The payoff to Frank is in the upper corner of each box, and the payoff to George is in the lower corner of each box. The most likely outcome is
a. for both to confess and spend 5 years in prison.
b. for both to deny and spend 2 years in prison.
c. for George to deny and spend 10 years in prison and Frank to confess and spend 1 year in prison.
d. for George to confess and spend 1 year in prison and Frank to deny and spend 10 years in prison.
A firm's opportunity cost of using resources provided by the firm's owners is called:
a. sunk costs. b. fixed costs. c. explicit costs. d. implicit costs. e. entrepreneurial costs.
Economically speaking, tariffs are
a. a means to promote economic efficiency. b. necessary to keep the industries of an economy healthy. c. the same as import quotas. d. obstacles that limit voluntary exchange.