Someone saying that he wants to lose weight, but ordering dessert is an example of:
A. rational decision making.
B. utility-maximizing behavior.
C. rational behavior.
D. irrational behavior.
Answer: D
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What appears on the asset side of a bank's balance sheet?
A. excess reserves B. loans. C. required reserves. D. all of the above
All of the following are intangible except: a. health
b. love. c. computer programming expertise. d. All of the above are intangible goods.
Which of the following can be used to predict the outcome of a game if there are no dominant strategies in the game?
A. Prisoner's dilemma B. Secure strategy C. First-mover advantage D. Nash equilibrium
Which of the following is TRUE about product markets?
A. Goods and services flow from households to firms. B. Factors (land, labor, capital, and entrepreneurial ability) flow from firms to households. C. Goods and services flow from firms to households. D. Factors (land, labor, capital, and entrepreneurial ability) flow from households to firms.