Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A.
B. C to D.
C. B to D.
D. A to C.
Answer: B
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Which of the following is not a characteristic of a chicken game?
A) Neither player has a dominant strategy. B) Nash equilibria exist at every outcome where the players successfully coordinate. C) The two general outcomes are where players either coordinate with one another or they do not. D) When both players play their tough strategy, they each receive their best possible payout.
According to the law of diminishing returns, an additional unit of
A) capital produces more output than an additional unit of labor. B) labor decreases output. C) labor produces more output than the previous unit. D) labor produces less output than the previous unit.
Which of the following is true of a recessionary period?
a. It is usually accompanied by an improvement in the value of an economy's currency. b. It is usually accompanied by low levels of inflation c. It is usually accompanied by a dramatic decline in the stock of inventories. d. It usually lasts for a few months. e. It leads to a drastic decline in government spending.
Which of the following countries has the highest export ratio?
A. The United Arab Emirates. B. Japan. C. China. D. The United States.