GDP is the total market value of:
a. All expenditures on natural resources, labor, and capital goods in an economy in a given year
b. All intermediate goods and services produced in an economy in a given year
c. All final goods and services produced in an economy in a given year
d. All expenditures on consumption, investment, and net exports in an economy in a given year
c. All final goods and services produced in an economy in a given year
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Which of the following is a true statement about signaling games?
a. In a separating equilibrium, the second mover's posterior beliefs are the same as his priors. b. In a separating equilibrium, Bayes' rule cannot be used to compute posterior beliefs (because it produces an undefined answer). c. In a pooling equilibrium, both the first and second movers choose the same action. d. In a pooling equilibrium, the second mover learns nothing from the first mover's action.
Certifying a used car through a brand dealership is one way to:
A. credibly screen out lemons. B. unreliably signal that the car is not a lemon. C. unreliably screen out lemons. D. credibly signal the car is not a lemon.
Explain how a reservoir can serve as an analogy for thinking about a nation’s capital stock, investment, and depreciation
What will be an ideal response?
The Internet has allowed an increasing number of goods and services to be traded in national markets.
Answer the following statement true (T) or false (F)