Which of the following is true?
A. Perfect equilibrium and Nash equilibrium are the same concept but with different names.
B. A Nash equilibrium is always perfect.
C. A Nash equilibrium is always perfect in a multistage game.
D. A perfect equilibrium is always Nash.
Answer: D
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The difference between an absolute price and a relative price is that:
a. absolute prices are based on costs of production, relative prices are based on market exchange. b. absolute prices are in terms of currency, relative prices are in terms of another good. c. absolute prices are in terms of another good, relative prices are in terms of currency. d. absolute prices never change, relative prices change with inflation.
Which Fed policy would be part of a restrictive monetary policy?
A) Raising tax rates. B) Lowering the discount rate. C) Selling government bonds. D) Reducing the required reserve ratio. E) None of the above.
When the Federal Reserve increases the money supply, people ________
A) decrease their purchases of bonds and other financial assets B) may, in the short run, increase their purchases of goods and services C) decrease the quantity of money holdings D) all of the above E) none of the above
Invention is
A. the act of discovering new products or new ways of making products. B. the act of putting new ideas into effect. C. the collaboration of land, labor, and capital to bring to market goods and services. D. the act of reducing the number of inputs to increase the amount of output.