Game theory can be used for studying which of the following types of market structure?
A) monopoly
B) monopolistic competition
C) oligopoly
D) perfect competition
C
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The economic resource that organizes the use of other economic resources is called
A) labor. B) capital. C) entrepreneurship. D) land.
Which of the following statements best describes the reaction of the private sector to government budget deficits and surpluses?
a. In practice, the private sector only sometimes adjusts its savings behavior to offset government budget deficits and surpluses. b. In practice, the private sector only partially adjusts its savings behavior to offset government budget deficits and surpluses. c. In practice, the private sector only sometimes and partially adjusts its savings behavior to offset government budget deficits and surpluses. d. In practice, the private sector does not adjust its savings behavior to offset government budget deficits and surpluses.
If U.S. goods became less desirable to the British, there would be
a. a rightward movement along the supply of British pounds curve in the dollar-pound market b. a leftward movement along the supply of British pounds curve in the dollar-pound market c. a rightward shift of the supply of British pounds curve in the dollar-pound market d. a leftward shift of the supply of British pounds curve in the dollar-pound market e. no change in the supply of British pounds curve in the dollar-pound market
Which one of the following is NOT an automatic stabilizer?
A. unemployment compensation programs B. the system of welfare payments C. the system of national defense procurement D. the income tax system