Economic theory would lead us to suspect that deep sea oil reserves would be accessed before those located in the Middle East or on the U.S. mainland
a. True
b. False
Indicate whether the statement is true or false
False
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The purchasing power parity theory states that
A) exchange rates between any two currencies will adjust to reflect changes in the relative price level of the two countries. B) exchange rates between any two currencies will adjust to reflect change in the relative income growth rates of the two countries. C) the larger the economic growth rate in a country, the less likely its currency will depreciate in value. D) exchange rates cannot be compared over time. E) currencies appreciate as often as they depreciate.
The government of an island nation is running a contest to see who can design a highly efficient desalination machine. The winner will get a contract to build and install the machines in every city along the coast, as well as a $10 million dollar grant for further research. This government is investing in ______.
a. new growth theory b. technology c. human capital d. physical capital
Oligopoly is an industry with a small number of firms producing homogeneous or differentiated goods with minimal barriers to entry
a. True b. False Indicate whether the statement is true or false
mixed-strategy Nash equilibrium is the outcome in which a player's ________ strategy is the best strategy for that player, taking as given the other player's ________ strategy.
A) mixed; mixed B) pure; pure C) pure; mixed D) mixed; pure