A decision matrix:
A. summarizes the players, strategies, and payoffs associated with a game.
B. outlines the clear outcome of any strategy-based game.
C. shows only the decisions of one player.
D. is not useful in evaluating the strategic choices.
A. summarizes the players, strategies, and payoffs associated with a game.
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In the market for reserves, a lower discount rate
A) decreases the supply of reserves. B) increases the supply of reserves. C) lengthens the vertical section of the supply curve of reserves. D) shortens the vertical section of the supply curve of reserves.
State and local governments were smaller than the federal government in 1900
a. True b. False
The production possibilities curve (PPC) illustrates economic growth by a(n)
A) bowed-out shape of the PPC. B) outward shift of the PPC. C) inward shift of the PPC. D) movement along the PPC.
Which of the following is a question answered with normative economic reasoning?
A. If the college offers free parking for students, will more students drive to campus? B. Should the college cut tuition to stimulate enrollment? C. If the college provided more financial aid assistance, would more students benefit? D. If the college increased tuition, would class size decline?