In games, strategies are:
A. the outcomes players want to achieve.
B. the same for everyone to achieve the same goal.
C. the plans of action that players follow to achieve their goals.
D. All of these statements are true.
C. the plans of action that players follow to achieve their goals.
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Discretionary fiscal policy is so named because it
A) is undertaken at the order of the nation's central bank. B) involves specific changes in taxes and government spending undertaken by Congress and the president. C) occurs automatically as the nation's level of GDP changes. D) involves secret advice given by the Council of Economic Advisers to the president.
The payment received by suppliers of entrepreneurial skills is called profit
Indicate whether the statement is true or false
Three basic decisions must be made by all economies. What are they?
a. How much will be produced, when it will be produced, and how much it will cost. b. What the price of each good will be, who will produce each good, and who will consume each good. c. What will be produced, how goods will be produced, and for whom goods will be produced. d. How the opportunity cost principle will be applied, if and how the law of comparative advantage will be utilized, and whether the production possibilities constraint will apply.
Global technologies, such as electronics, have made up a significant portion of the recent wave of manufacturing offshoring
Indicate whether the statement is true or false