In games, rules:
A. define the actions that are allowed in a game.
B. need to be loosely adhered to in order to predict an outcome.
C. define the winners of a game.
D. outline the wrong choices that could be made in a game.
A. define the actions that are allowed in a game.
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In order to increase economic growth, a government can
A) discourage research and development. B) decrease funding on education. C) discourage specialization and trade. D) establish property rights and a legal system. E) tax saving in order to encourage more spending.
Suppose a year ago the exchange rate between Mexican pesos and dollars was 13.5 pesos per dollar, and that according to relative PPP the exchange rate was in equilibrium
Furthermore, assume that since then, Mexican inflation has been 12 percent while the U.S. inflation has been 3 percent. If according to relative PPP the peso is now said to be overvalued, what is a possible exchange rate consistent with this assertion? A) 13.5 pesos per dollar. B) 14.72 pesos per dollar. C) 15 pesos per dollar. D) 20 pesos per dollar.
A monopolist's profit per unit is shown by the difference between price and marginal cost per unit
a. True b. False Indicate whether the statement is true or false
Which of the following is/are NOT a characteristic of a perfectly competitive market?
A. a small number of firms in a market B. selling a standardized product C. no barriers to entry D. an individual firm having no control over price