Refer to the scenario above. The country's net exports during that year were ________
A) $77.8 billion B) $92.4 billion C) -$2.2 billion D) -$1.2 billion
C
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Answer the following statement(s) true (T) or false (F)
1. An outcome that is Pareto optimal is preferred by both players to all other possible outcomes. 2. A Nash equilibrium need not be Pareto optimal, and a Pareto-optimal outcome need not be a Nash equilibrium. 3. In the Prisoners' Dilemma game, the only outcome that is not Pareto optimal is also the game's only Nash equilibrium. 4. When a game is played sequentially, the first player will have an advantage over the second player. 5. A Cournot equilibrium arises when one player announces his strategy before the other.
Refer to Figure 16-1. Suppose the economy is in a recession and expansionary fiscal policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) B to A. B) C to B. C) B to C. D) A to B. E) A to E.
Which of the following are substitute goods?
A) margarine and butter B) peanut butter and jelly C) pizza and beer D) sports utility vehicles and gasoline
The further in the future a payment is received, the more it is worth today.
Answer the following statement true (T) or false (F)