The study of how people behave strategically under different circumstances is called:
A. strategy optimization.
B. game theory.
C. strategy theory.
D. game strategy.
Answer: B
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Which of the following would increase the consumption component of U.S. GDP?
A. A business purchases Disney World vacations as rewards for the firm's best salespeople. B. Disney World purchases tires for the monorail from a firm in Ohio. C. A French man purchases a vacation at a Disney theme park in France. D. You purchase a vacation at Disney World in Florida.
In the short run, a decrease in government expenditure ________ real GDP and ________ the price level
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
The problem of "double marginalization" is
a. The retail price being too low due to an exclusion of both manufacturer and retailer markup b. The retail price being too high due to an inclusion of manufacturer markup c. The retail price being too high due to an inclusion of both manufacturer and retailer markup d. The retail price being too high due to an exclusion of retailer markup
Real GDP measures output of final goods and services in physical units
a. True b. False Indicate whether the statement is true or false