A game in which any gains within the group are exactly offset by equal losses by the end of the game is a
A. positive-sum game.
B. zero-sum game.
C. strategy.
D. negative-sum game.
Answer: B
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Assume the economy is in recession and real GDP is below full employment. The marginal propensity to consume (MPC) is 0.50, and the government follows Keynesian economics by using expansionary fiscal policy to increase aggregate demand (total spending). If an increase of $1,000 billion aggregate demand can restore full employment, the government should:
a. increase spending by $250 billion. b. decrease spending by $500 billion. c. increase spending by $1,000 billion. d. increase spending by $500 billion.
In an open economy, the government deficit is 600 and saving exceeds investment by 500, so in equilibrium the trade deficit (IM ? X) must be
a. 100. b. 200. c. 300. d. 700.
The reserve-deposit ratio equals:
A. bank deposits divided by bank reserves. B. 10 percent of bank reserves. C. bank reserves divided by bank deposits. D. 10 percent of bank deposits.
Because education is less costly to obtain for highly productive individuals who are also likely to be highly productive in the work place, education ________ in the job market.
A. is a weak market signal B. is a strong market signal C. is the only market signal D. does not work as a market signal