Holding all else constant, if the U.S. government restricts capital outflows, then the equilibrium value of the U.S. dollar will:
A. appreciate
B. remain fixed.
C. depreciate.
D. be determined by the Federal Reserve.
Answer: A
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Refer to the scenario above. The sum of the firms' payoffs is maximum when ________
A) both the firms choose Strategy X B) both the firms choose Strategy Y C) Firm A chooses Strategy X, and Firm B chooses Strategy Y D) Firm A chooses Strategy Y, and Firm B chooses Strategy X
Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the demand curve for U.S. Dollars ________ and the demand curve for South Korean Won ________
A) shifts rightward; does not shift B) shifts rightward; shifts leftward C) does not shift; shifts leftward D) shifts leftward; shifts rightward
Why does cooperative behavior break down in games with finite endpoints?
A) Each player has an incentive to deviate from a cooperative strategy during the last period. B) A Nash equilibrium in pure strategies is not possible in finite repeated games. C) Finite games have the same outcomes as one-period games, and cooperation is not possible in one-period games. D) A Nash equilibrium is only possible in mixed strategies in finite repeated games, but all of the probabilities assigned to particular strategies approach zero as the number of finite game periods becomes large. Thus, we cannot evaluate the expected payoffs in these games.
The marginal product of labor is the
a. total output produced when one more worker is hired b. change in average output produced when one more worker is hired c. total output per worker when one more worker is hired d. change in total output when one more worker is hired e. maximum quantity of output when one more worker is hired