The increase in the proportion of tertiary employment over time at the expense of both primary and secondary employment
(a) is peculiar to the western industrial countries.
(b) is strictly an American phenomenon.
(c) is present generally in all industrial countries.
(d) is restricted to countries with relatively small
government sectors.
(c)
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Refer to Game Matrix III. Which of the following is a property of this game?
Game Matrix III
The following questions refer to the game matrix below. Each firm has a choice of advertising, Ads, or not advertising, No ad. The profits each gets depend upon which it chooses.
a. Both firms have dominant strategies.
b. There is no pure strategy Nash equilibrium.
c. There is a Nash equilibrium and it is Pareto optimal.
d. There is a Nash equilibrium and it is not Pareto optimal.
Banks use repurchase agreements to
A) ensure that payments on consumer loans are made on time. B) borrow funds from business firms or other banks. C) guard against price fluctuations on long-term bonds. D) ensure that they always have enough funds on hand to meet their federal tax liabilities.
Housing prices peaked in:
a. 1997. b. 2000. c. 2003. d. 2006.
In a competitive market with free entry and exit, if all firms have the same cost structure, then
a. all firms will operate at their efficient scale in the short run. b. all firms will operate at their efficient scale in the long run. c. the price of the product will differ across firms. d. Both a and b are correct.