In the prisoner's dilemma game:
A. if players can communicate in advance, they may still not cooperate.
B. if players can communicate in advance, they will always cooperate.
C. will only cooperate if they are trustworthy.
D. will always choose to cooperate.
Answer: A
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Suppose the desired reserve ratio is 10 percent. If Urban Bank has total deposits of $1000 and total assets of $10,000, the amount of desired reserves is
A) $9,000. B) $900. C) $100. D) $1,000. E) $1,100.
Kirk consumes normal goods. If Kirk's income decreases and the prices of all goods remain unchanged, in his new consumer equilibrium, his marginal utility from each good will ________ and his total utility will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
The United States first became a creditor nation in the year _______.
Fill in the blank(s) with the appropriate word(s).
Which of the following is true?
A) Employment and unemployment are both coincident with the business cycle. B) Employment and unemployment are both procyclical. C) Employment is procyclical and unemployment is coincident with the business cycle. D) Employment is procyclical and unemployment is countercyclical.