As defined by Thomas Schelling, a "strategic move" is
A) any strategy choice in a game.
B) any strategy choice consistent with Nash equilibrium.
C) any strategy choice in a sequential game.
D) a strategy choice that influences the subsequent strategy choice of another player.
E) a strategy choice that restricts the set of outcomes available to another player.
D
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The growth rate of real GDP per person equals the
A) population growth rate plus the growth rate of real GDP. B) change in the economic growth rate divided by the change in the population growth rate. C) the economic growth rate per person divided by the change in the population growth rate. D) growth rate of real GDP minus the growth rate of the population. E) population growth rate plus the growth rate of real GDP then divided by the initial level of real GDP.
An increase in the currency drain
A) leads to an increase in excess reserves. B) decreases the size of the money multiplier. C) results in an increase in deposits. D) results in an increase in required reserves.
Refer to Figure 12-2. Why is the total revenue curve a ray from the origin?
A) because the firm can sell its product at a constant price B) because revenue increases at a decreasing rate C) because the firm must lower its price to sell more D) because revenue increases at an increasing rate
One of the reasons that import substitution is popular is that
a. there was never any demand for the products in question b. infant industries would have to compete against global rivals c. it benefits suppliers to the favored domestic industries d. it slows down the progression through the production chain e. the emphasis is on comparative advantage and trade expansion