The government's authority to take private property for public use is referred to in economics as a land grab
Indicate whether the statement is true or false
FALSE
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Game theory is a tool for studying ________
A) Nash behavior B) payoff dilemmas C) rational dilemmas D) strategic behavior
When the economy's actual price level exceeds the expected price level, the real value of an agreed-on ________ ________ declines
a. real wage b. nominal wage c. contractual price d. supply level
Market equilibrium maximizes the sum of:
A. total cost and total benefit. B. excess demand and excess supply. C. consumer surplus and producer surplus. D. marginal cost and marginal benefit.
When you have $1,000 in a savings account at a bank:
A. both you and the bank now have a financial asset of $1,000. B. the bank holds a financial asset of $1,000 and you hold a financial liability of $1,000. C. both you and the bank now have a financial liability of $1,000. D. the bank holds a financial liability of $1,000 and you hold a financial asset of $1,000.