The above table shows Sue's total utility from golf and tennis. If the price of each hour of golf is twice the price of each hour of tennis, and Sue plays four hours of tennis, then Sue plays
A) one hour of golf.
B) two hours of golf.
C) three hours of golf.
D) four hours of golf.
C
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In the prisoner's dilemma:
A. a cooperative win-win outcome can be predicted. B. a dominant strategy exists for only one player. C. a non-cooperative outcome is predicted. D. All of these statements are true.
International trade allows a country's consumption possibilities to exceed its production possibilities.
Answer the following statement true (T) or false (F)
The Federal Reserve System
A. has regional Federal Reserve Banks that make most of the decisions. B. makes decisions subject to the approval of the President. C. makes its major policy decisions in its Open Market Committee. D. makes decisions subject to the approval of Congress.
Exhibit 15-2 Balance Sheet of Springfield National Bank Assets Liabilities Total reserves$500 Demand deposits$1,000 Loans$500 In Exhibit 15-2, if Springfield National's customers write checks for $200 and the required reserve ratio is 20 percent, then its required reserves fall to:
A. $0. B. $40. C. $160. D. $460.