Which of the following is a correct reason for stating that the United States has a fiduciary monetary system?I.The U.S. currency is convertible to a fixed amount of silver or gold.II.The U.S. currency has a predictable value.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Answer: B
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Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is:
A. 10. B. 15. C. 40. D. 30.
Suppose that Canada can produce 15 units of timber or 3 units of grain. Suppose that Mexico can produce 6 units of timber or 2 units of grain. Which of the following is CORRECT?
A) Mexico has a comparative advantage in grain production. B) Mexico has an absolute advantage in timber production. C) Canada has a comparative advantage in grain production. D) The countries would find trade mutually beneficial at a trading ratio of 1 grain for 2 timber.
Policy makers who believe that the costs of unemployment are very high will tend to favor which of the following during a recessionary gap?
a. moderate fiscal stimulus, no monetary stimulus b. fiscal and monetary tightness c. moderate monetary stimulus, fiscal tightness d. strong fiscal and monetary stimulus
What is true about the following payoff matrix? A: cooperateA: not cooperateB: cooperateA: 2, B: 2A: 5, B: 5B: do not cooperateA: 3, B: 1A: 0, B: 0
A. Only player A has a dominant strategy. B. Only player B has a dominant strategy. C. Both player A and player B have dominant strategies. D. Neither player A nor player B has a dominant strategy.