Which of the following is not considered a resident when calculating the balance of payments?
a. governments
b. capital equipment
c. organizations
d. firms
e. people
B
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The problems of inflation and unemployment are
A. only relevant to European economies. B. not relevant to the U.S. economy. C. major topics of microeconomics. D. major topics of macroeconomics.
The Nash equilibrium of this game is for Happy Feet to ________ and Best Nails to ________.
Happy Feet wants to prevent Best Nails from entering the nail salon market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Happy Feet and Best Nails have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) Ad; No Ad
B) No Ad; Ad
C) Ad; Ad
D) No Ad; No Ad
When the Fed increases the required reserve ratio, a bank's
A) required reserves are unaffected. B) required reserves are increased. C) required reserves are decreased. D) excess reserves are decreased. E) b and d
Suppose that the total expenditures for a typical household in 2015 equaled $2,500 per month, while the cost of purchasing exactly the same items in 2017 was $3,000. If 2015 is the base year, the CPI for 2017 equals:
A. 1.00 B. 0.83 C. 1.20 D. 1.25