For players in a repeated-play game to achieve cooperation:
A. the players must reach an explicit agreement to cooperate.
B. the players need not explicitly state an agreement to cooperate, but must publicly display a commitment strategy.
C. there is no need to enter into public commitment strategies or explicit agreements.
D. there is no need for players to collude.
C. there is no need to enter into public commitment strategies or explicit agreements.
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Credit-driven bubbles ________
A) occur exclusively within the financial sector B) are more likely to be identified by central bank officials than by market participants C) are best contained with a policy of high real interest rates D) are harder to identify than expectations-driven bubbles
Usury laws typically regulate
a. interest rates paid on savings. b. interest rates charged on loans. c. rents charged on land. d. economic rent earned in all factor markets.
Suppose the market basket consists of 400X, 150Y, and 220Z. Current-year prices are $1.50 for each unit of X, $0.50 for each unit of Y, and $4.60 for each unit of Z. Base-year prices are $1.00 for each unit of X, Y, and Z. Approximately what is the value of the CPI in the current year?
a. 457 b. 354 c. 219 d. 119
Debt accumulation by the U.S. government in the 1980s:
A. Exceeded the debt the country had accumulated over the preceding 200 years. B. Was small compared with earlier periods of history. C. Was caused by war-related expenditures. D. None of the choices are correct.