Examples of command economies are:
A. the United States and Japan.
B. Sweden and Norway.
C. Mexico and Brazil.
D. Cuba and North Korea.
Ans: D. Cuba and North Korea.
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A horizontal LM curve implies that the expenditure multiplier, when compared with the simple Keynesian expenditure multiplier, is
A) smaller. B) larger. C) equal. D) equal to the inverse of the simple multiplier.
Use the following statements to answer this question: I. If mixed strategies are allowed, every game has at least one Nash equilibrium. II. The maximin strategy is optimal in the game of "matching pennies."
A) Both I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) Both I and II are false.
If there is a shortage, there is _____ search activity.
Fill in the blank(s) with the appropriate word(s).
Consider the following payoff matrix facing Harry and Sally when each chooses to go to the coffee shop listed. Both Harry and Sally would like to meet each other but are shy about asking the other out on a date. Harry StarbucksDunkin DonutsSally StarbucksH: 1, S: 1H: 0, S: 0 Dunkin DonutsH: 0, S: 0H: 1, S: 1What is Harry's best strategy?
A. Harry has no best strategy. B. Stay at home. C. Go to Starbucks. D. Go to Dunkin' Donuts.