The quantity theory of money can explain hyperinflations but not moderate inflation
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Scenario 12.2. In this game, there is (are)
A) 4 Nash equilibria. B) 2 Nash equilibria. C) 1 Nash equilibrium. D) zero Nash equilibria.
A set of actions that a firm takes to achieve a goal, such as maximizing profits, is called
A) the Porter's Competitive Forces plan. B) game theory. C) a payoff matrix. D) a business strategy.
The basic aggregate demand and aggregate supply curve model helps explain ________ fluctuations in real GDP and the price level
A) long-term B) unrelated C) both short-term and long-term D) short-term
Marginal cost:
A. is calculated as change in total cost divided by change in total output. B. is calculated as change in total output divided by change in total cost. C. increases then decreases, as output increases, to reflect marginal product. D. None of these is true.