When a player in a game adopts a strategy which always yields the highest benefit regardless of what the other player does, that player is using a(n)
A) opportunistic strategy.
B) dominant strategy.
C) tit-for-tat strategy.
D) aggressive strategy.
B
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At a perfectly competitive firm, all of the following is true of the MRP curve EXCEPT
A) the MRP curve is the derived supply of labor. B) the MRP curve shifts leftward when labor productivity falls. C) the MRP curve shifts rightward when the product price rises. D) the MRP curve shifts leftward when the demand for the final product falls.
Net capital outflow measures how many capital goods are:
A. exported minus how many are imported to a country. B. imported from a country. C. exported from a country. D. imported to a country minus exported from a country.
According to the classical economists, if the quantity of money that people wanted to save was less than the amount that people wanted to invest,
A. the interest rate would fall. B. the interest rate would rise. C. this situation would cause hyperinflation. D. this situation would cause stagflation.
Assume the expectations hypothesis regarding the term structure of interest rates is correct. If the current one-year interest rate is 3% and the one-year-ahead expected one-year interest rate is 5%, then the current two-year interest rate should be:
A. 3%. B. 5%. C. 8%. D. 4%.