The Prisoner's Dilemma is an example of
A) market signaling.
B) a zero-sum game.
C) a non-zero sum, non-cooperative game with a dominant strategy.
D) adverse selection.
C
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If Dr. Giltscalpel's gross revenue doubled when he doubled his surgical fees, the demand for his services within the relevant price range would be
A) indeterminate. B) perfectly elastic. C) perfectly inelastic. D) unit elastic. E) none of the above.
In August 2011, Standard & Poor's (S&P) changed its rating on U.S. Treasury bonds from "AAA" to "AA+" based on the state of the federal government's budget deficit
This was the ________ a rating agency had given Treasury bonds less than a rating of "AAA". A) first time ever B) second time since the year 2000 C) fifth time in history D) first time since the Great Depression
A rightward shift in the intertemporal budget line would be caused by ________
A) an increase in future income and wealth B) an increase in future income and a decrease in wealth C) a decrease in future income and an increase in wealth D) a decrease in future income and wealth
For a given nominal exchange rate and domestic price level, a decrease in the foreign price level ________ the real exchange rate.
A. decreases B. offsets any change in C. may either increase or decrease D. increases