What did the European Central Bank (ECB) do to bolster the value of the euro in September 2000?
What will be an ideal response?
The ECB began selling foreign currencies and purchasing euros. This central bank intervention would result in the appreciation of the euro.
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Consider the prisoner's dilemma model where two criminals have two options (confess or deny), and each criminal must make their decision without speaking to the other criminal first
If they both confess they each get 3 years, if only one confesses then he gets 1 and his partner gets 10, and if neither confesses then they each get 0. They are in fact both guilty. In this game, the Nash equilibrium is where A) both confess. B) neither one confesses. C) only one will confess. D) It is impossible to say.
Mail-in ballots are designed to:
A. increase your ability to fulfill your civic duty. B. increase utility derived from voting. C. decrease the costs associated with voting. D. increase the accuracy voting process.
The Scarcity Principle applies to:
A. only market decisions, e.g., buying a car. B. only the poor. C. only non-market decisions, e.g., watching a sunset. D. all decisions.
Marginal utility:
A) is equal to total utility divided by the number of units consumed. B) is equal to total utility if the demand curve is linear. C) increases as more of a product is consumed. D) diminishes as more of a product is consumed.