Which of the following is likely to use the concepts of game theory?
A) Deciding on how much to spend on monthly groceries
B) Exit decision of competitive firms in the long run
C) International trade negotiation
D) Pricing decision of a firm operating in a competitive market
C
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In the classical model there is complete crowding out when government spending increases, but in the short-run macro model there is only partial crowding out
a. True b. False
In the standard 45° line expenditure model, the C + I line and the C line are parallel because
A. all I is assumed to be autonomous. B. all I is assumed to be induced. C. consumption depends on disposable income. D. I rises with GDP at the same rate as C.
Recall the Application about Bitcoin and other cryptocurrencies to answer the following question(s). According to the Application, Bitcoin and other cryptocurrencies:
A. require a special method to encode or encrypt transactions. B. are cleared using systems of the Federal Reserve. C. are backed by gold or silver only. D. All of these are correct.
Refer to the below graph. If the price is P3, then the total revenue is represented by area:
A. B + C + D
B. E + F + G
C. B + C + D + E + F + G
D. A + B + C + D + E + F + G