Globalization was much more pervasive in the 1800s than it is today
a. True
b. False
Indicate whether the statement is true or false
False
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Joe is the owner of the 7-11 Mini Mart, Sam is the owner of the SuperAmerica Mini Mart, and together they are the only two gas stations in town. Currently, they both charge $3 per gallon, and each earns a profit of $1,000. If Joe cuts his price to $2.90 and Sam continues to charge $3, then Joe's profit will be $1,350, and Sam's profit will be $500. Similarly, if Sam cuts his price to $2.90 and Joe continues to charge $3, then Sam's profit will be $1,350, and Joe's profit will be $500. If Sam and Joe both cut their price to $2.90, then they will each earn a profit of $900. You may find it easier to answer the following questions if you fill in the payoff matrix below. 
width="383" />If both players choose their dominated strategy they will each earn ________, and if both players choose their dominant strategy they will each earn ________. A. $900; $1000 B. $1000; $900 C. $500; $1350 D. $900; $1350
If the exchange rate between the dollar and Japanese yen is below the equilibrium exchange rate, there will be a ________ of dollars, and the exchange rate will ________
A) surplus; fall to the equilibrium level B) shortage; change only when the supply curve shifts leftward C) shortage; rise to the equilibrium level D) surplus; rise to the equilibrium level
In a public corporation, asymmetric information often results in a principal-agent problem between top management and ownership. What information would help to prevent this principal-agent problem?
What will be an ideal response?
The concurrent problems of inflation and unemployment are termed:
a. depression. b. downturn. c. deflation. d. demand-pull inflation. e. stagflation.