If the acceptance of Project A makes it impossible to accept Project B, these projects are:
a. contingent projects
b. complementary projects
c. mutually inclusive projects
d. mutually exclusive projects
e. none of the above
d
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Refer to the game between James and Theodore depicted in Figure 12.1. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Left.
B. If James chooses Down, Theodore's best response is to choose Right.
C. If Theodore chooses Left, James's best response is to choose Down.
D. If Theodore chooses Right, James's best response is to choose Up.
Opportunity cost:
a. applies only to consumption decisions. b. applies only to production decisions. c. is the same as monetary costs. d. exists because of scarcity. e. is irrelevant for wealthy economies.
Conspicuous consumption as an ability signal
A. completely different from a prisoner's dilemma. B. characterized by lower levels of consumption. C. is more effective if the positional goods nature of consumption causes everyone to consume elaborately. D. will likely continue even if it is wasteful for all involved.
The difference between a standard and an inverted yield curve is that when the yield curve is inverted, the longer-term bond pays a lower interest rate than a short-term bond.
Answer the following statement true (T) or false (F)