In the two-thirds game, in which you choose a number between 1 and 100 that is two-thirds of the average chosen by the group, the rollback strategy is to:
A. choose zero.
B. choose a number randomly.
C. be the first person to choose a number.
D. be the last person to choose a number.
Answer: A
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Refer to the table below. Martha's opportunity cost of making of a pie is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 3/4 of a cake. B. 80 cakes. C. 8 cakes. D. 4/3 of a cake.
Which of the following is an example of money?
A) currency inside the banks B) currency in your wallet C) credit card used as a payment for a good or service D) a debit card E) checks written as payment for a good or service
The academic work of Ben Bernanke, recent Chairman of the Board of Governors of the Federal Reserve System, suggests that he is a firm advocate of ________
A) fixed exchange rates B) inflation targeting C) decreased central bank transparency D) nominal GDP targeting
During the first three years of a recovery from a recession, productivity
a. usually rises relatively rapidly. b. falls slowly. c. is quite puzzling since it is usually unpredictable with respect to the directional change. d. usually remains constant.