Which of the following does consumption rely on to provide goods and services:
A. Producers
B. Consumers
C. Owners
D. Deciders
A. Producers
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An equilibrium in which each player chooses its best strategy given the strategies chosen by the other players is called a Nash equilibrium
Indicate whether the statement is true or false
The transactions approach to measuring M1 includes all of the following EXCEPT
A) traveler's checks. B) certificates of deposit. C) checking accounts. D) currency.
Economic models
a. are people who act out the behavior of firms and households so that economists can study this behavior. b. are usually detailed replications of reality. c. incorporate simplifying assumptions that often contradict reality, but also help economists better understand reality. d. are useful to researchers but not to teachers because economic models omit many details of the real-world economy.