The steeply upward sloping yield curve in the figure above indicates that
A) short-term interest rates are expected to rise in the future.
B) short-term interest rates are expected to fall moderately in the future.
C) short-term interest rates are expected to fall sharply in the future.
D) short-term interest rates are expected to remain unchanged in the future.
A
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Tracy and Amy are playing a game in which Tracy has the first move at X in the decision tree shown below. Once Tracy has chosen either the top or bottom branch at X, Amy, who can see what Tracy has chosen, must choose the top or bottom branch at Y or Z. Both players know the payoffs at the end of each branch. 
In the equilibrium this game, Tracy chooses the ________ branch, and then Amy chooses the ________ branch.
A. bottom; top B. top; top C. bottom; bottom D. top; bottom
Gross domestic product (GDP) figures tend to understate the quantity of goods and services available because: a. GDP excludes the value of goods produced at home
b. many items are counted twice or more in the intermediate stages of production. c. more women are entering the labor force. d. firms often add less to inventories than they planned to. e. exports are subtracted from GDP but imports are not added.
The term discouraged worker refers to an individual who: a. prefers full-time employment but works only part time
b. has given up looking for a job because he has lost the hope of getting a new job. c. is jobless because of the seasonal nature of his job. d. is jobless because of a recession in the economy.
When Jack consumes the first bottle of water, his utility increases by 20 utils. The second bottle of water increases his utility by 18 utils, and the third bottle of water increases his utility by 15 utils. This implies that the marginal utility of the second bottle of water is _____
a. 15 utils b. 18 utils c. 20 utils d. 24 utils