Refer to the information provided in Figure 33.2 below to answer the question(s) that follow.
Figure 33.2Refer to Figure 33.2. The opportunity cost of 1 ________ is 0.25 ________ in the United States and 0.67 ________ in England.
A. car; truck; truck
B. truck; truck; car
C. truck; car; car
D. car; car; truck
Answer: A
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As the banking system in the United States evolves, it is expected that
A) the number and importance of small banks will increase. B) the number and importance of large banks will decrease. C) small banks will grow at the expense of large banks. D) the number and importance of large banks will increase.
Which of the following games will have a solution in mixed strategies?
a. A price-fixing game b. A Prisoner's dilemma c. A drafting game used by racing cars. d. A product choice game with asymmetric profits
Currently in the United States, money is backed by
a. silver in the IMF vaults. b. Federal Reserve notes in banks. c. gold in Fort Knox. d. everyone's willingness to accept it.
Stagflation occurs when
A) inflation rises and GDP falls. B) inflation falls and GDP falls. C) inflation rises and GDP rises. D) inflation falls and GDP rises.