When a game is played repeatedly
A) only customers learn.
B) customers and firms are both able to learn.
C) firms end up colluding.
D) a prisoner's dilemma will be the equilibrium.
B
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The Dodd-Frank Act removed which group from decisions regarding the presidents of Federal Reserve Banks?
A) Class A directors B) Class B directors C) Class C directors D) Board of Governors
If the multiplier is 4, a decrease in spending equal to $80 billion will be accompanied by a decrease in GDP of
A. $480 billion. B. $320 billion. C. $240 billion. D. $84 billion. E. $48 billion.
In a simple lawn-mowing business where you have a push mower and labor as input, what would be the impact on output of adding an additional input in the form of a gas self-propelled mower (capital)?
A. Labor would decrease. B. Output would decrease. C. Output would remain the same. D. Output would increase.
Colombia has an absolute advantage in
A. coffee and a comparative advantage in hot dogs.
B. neither coffee nor hot dogs, but a comparative advantage in hot dogs.
C. neither coffee nor hot dogs, but a comparative advantage in coffee.
D. neither coffee nor hot dogs, but a comparative advantage in both hot dogs and coffee.