Game theory assumes that players in the game act
a. Rationally
b. Optimally
c. In their own self-interest
d. All the above
d
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All of the following are examples of illegal per se activities except which one?
A) output restrictions B) bid rigging C) price-fixing D) resale price maintenance
Internationally, recessions
a) are likely to begin in the smallest economies and spread to larger ones b) are isolated events, uncorrelated across countries c) in one region mean that world demand has shifted elsewhere, so other countries do not fall prey to downturns at the same time d) are especially contagious among trade partners e) are most pronounced among Socialist countries
An economic model is a detailed version of an economic environment.
Answer the following statement true (T) or false (F)
Related to the Economics in Practice on p. 431: ________ is responsible for producing and maintaining the National Income and Product Accounts (NIPAs).
A. The Department of Commerce B. The Department of the Treasury C. The Federal Reserve Bank D. Congress