What are the two basic types of economic systems?
What will be an ideal response?
(1.) Command economies.
(2.) Laissez-faire economies.
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Refer to Scenario 9.1. The dominant strategy for Monty is to place ________ sheep on the commons
A) 4 B) 5 C) Monty's dominant strategy depends on how man sheep Sheb places on the commons. D) Monty has no dominant strategy.
Because a decrease in the nominal interest rate reduces the opportunity costs of holding money, the money demand curve:
A. slopes upward. B. shifts to the right. C. slopes downward. D. shifts to the left.
In a two-country world (consisting of country X and country Y), an increase in Real GDP in country X will shift country Y's AD curve leftward
Indicate whether the statement is true or false
In the prisoner's dilemma game:
A. there is a dominant strategy for a player depending on what the other player does. B. there is a dominant strategy for only one player. C. there is a dominant strategy for both players. D. there is no dominant strategy for either player.