All games involve which of the following?
A. Full information
B. Payoffs
C. A predictable outcome
D. A game master
Answer: B
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An increase in a perfectly competitive firm's demand for labor could be caused by
A) an increase in the supply of labor. B) a decrease in the market price of the product the firm produces. C) an increase in the amount of human capital among the labor force. D) a decrease in the market wage rate.
A rational decisionmaker takes an action if and only if the marginal cost exceeds the marginal benefit
a. True b. False Indicate whether the statement is true or false
They gave a lot of these mortgage backed-securities AAA rating
What will be an ideal response?
A policymaker against stabilizing the economy would be likely to believe
a. policymakers should "do no harm". b. there are no obstacles to the practical application of policy in real life. c. policy lags are short enough that implementing policy changes in response to recession is not too risky. d. policy mitigates the magnitude of economic fluctuations.