The decision by the federal government to prohibit cigarette companies from advertising on television actually caused the companies' profits to increase, an outcome that is consistent with the prediction of the prisoner's dilemma game
Indicate whether the statement is true or false
TRUE
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A production possibilities curve always slopes downward to the right because resources
a. are not scarce. b. have no opportunity cost. c. are freely available. d. are limited. e. are not related to outputs.
Suppose the consumer price index (CPI) for Year X is 130 . This means the average price of goods and services is
a. currently $130. b. 130 percent more in Year X than in the base year. c. 130 percent more in the base year than in Year X. d. priced at 30 percent more in Year X than in the base year.
Which of the following is an example of an adverse supply shock?
a. a decrease in the money supply b. a tax cut c. a worldwide drought d. decreased government spending
Dumping is sometimes legal under international trade agreements.
Answer the following statement true (T) or false (F)