Suppose iPhones cost consumers $200 and USB cables cost consumers $25. What contribution does the production of 2,000 iPhones and 1,200 USB cables make to GDP?
A. $200,000.
B. $1,200,000.
C. $580,000.
D. $430,000.
Answer: D
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Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Suppose a timing element is added to the game, and that Jordan buys a ticket first. Then, after seeing Jordan's choice, Lee buys a ticket. What will be the equilibrium outcome?
A. Both Jordan and Lee will buy a ticket to the documentary. B. Both Jordan and Lee will buy a ticket to the comedy. C. Jordan will buy a ticket to the documentary and Lee will buy a ticket to the comedy. D. Jordan will buy a ticket to the comedy and Lee will buy a ticket to the documentary.
Uncertainty about interest-rate movements and returns is called
A) market potential. B) interest-rate irregularities. C) interest-rate risk. D) financial creativity.
An oligopsony exists when
a. a few sellers dominate a market. b. a few buyers dominate a market. c. a single buyer dominates a market. d. a single seller dominates a market.
Which exchange rate system requires an immediate response by a government to counter market forces on exchange rates, but it need not completely negate all of those forces?
A. The fixed exchange rate system B. The free market exchange rate system C. The floating exchange rate system D. The managed float exchange rate system