The most extensive indexing in the United States is in
A. interest payments on bonds or savings accounts.
B. government transfer payments, including Social Security benefits.
C. government contracts for military goods.
D. escalator clauses in wage and salary contracts.
Answer: B
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The supply of loanable funds has a ________ slope because the greater the interest rate, the ________ the reward to saving, and the ________ the quantity of loanable funds supplied
A) positive; lesser; lesser B) negative; lesser; greater C) positive; greater; lesser D) positive; greater; greater
The economic functions of government include
A) determining prices. B) setting wages in the public sector. C) protecting property rights. D) welfare.
An important assumption that is made when constructing a demand schedule is that
a. only price and quantity matter in determining demand. b. people always want a certain amount of a product. c. demand is too important to be left to the economists. d. all other determinants of demand are held constant. e. demand has a positive slope.
When a prisoners' dilemma game is repeated a finite number of times (T)
A) cooperation unravels during the first round of the game, resulting in the static game Nash equilibrium.
B) cooperation continues until the T-2 round, where the players will switch to a non-cooperative Nash equilibrium.
C) firms cooperate and achieve the collusive Nash equilibrium for all rounds.
D) None of the above.