Interest rates are positive mainly because
A) of inflation.
B) people tend to prefer the present to the future.
C) people tend to prefer the future to the present.
D) bankers are greedy.
B
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Which of the following is likely to happen if the government decides to impose a tariff?
A) Domestic consumers will be better off. B) The revenue earned by the government will decrease. C) Domestic producers will face higher foreign competition. D) The domestic industry will earn higher profits.
Suppose the government wants to reduce the illegal importation of exotic animals used as pets and tries to achieve this goal by interrupting the supply of illegally imported exotic animals
If the demand for these animals is highly elastic, this government effort will result in A) a small reduction in the quantity of exotic pets demanded. B) a large reduction in the quantity of exotic pets demanded. C) no change in the quantity of exotic pets demanded. D) an increase in the quantity of exotic pets demanded.
Accountants calculate
A) economic depreciation as part of the firm's cost. B) depreciation using Internal Revenue Service rules. C) the opportunity cost of all the resources the firm uses. D) all the firm's implicit costs but only a few of its explicit costs. E) All of the above answers are correct.
Gary and Christine are two players in game, in which Gary's decisions are based on the choice made by Christine. This is an example of a(n) ________
A) simultaneous move game B) extensive-form game C) pure-strategy game D) zero-sum game