The longer the "pass-through" period following a devaluation, the faster the desirable balance of trade effects of a devaluation will appear on quantities traded
Indicate whether the statement is true or false
FALSE
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Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) Camp with Us Offer Financing and Happy Campers Offer Financing is a Nash equilibrium.
B) There are no Nash equilibria in this game.
C) Camp with Us Do Not Offer Financing and Happy Campers Offer Financing is a Nash equilibrium.
D) Camp with Us Do Not Offer Financing and Happy Campers Do Not Offer Financing is a Nash equilibrium.
Suppose two successive levels of disposable personal income are $16 and $21 billion, respectively, and the change in consumption spending between these two levels of disposable personal income is $2 billion, then the MPC will be equal to _____
a. 0.12 b. 0.8 c. 0.7 d. 0.4 e. 0.04
Personal income includes: a. income received in the form of transfer payments. b. wages and salaries
c. interest earnings on bonds. d. all of the above.
According to the representative heuristic, you are more likely to assume that someone you just met is an architect if:
A. you also happened to meet two other architects earlier in the day. B. it has been a long time since you last met an architect. C. that person has many of the characteristics of an architect. D. you recently watched a television show about architects.