The economist credited with pioneering the "new growth theory" is
A) Milton Friedman.
B) Jia-Tzu Weng.
C) Paul Romer.
D) Julian Simon.
C
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The Fed tends not to use discount policy as its principal tool in influencing the money supply since
A) discount loans do not affect the money supply. B) it does not have as much control over discount loans as it has on open market operations. C) it is prohibited from doing so by an act of Congress. D) it prefers to use reserve requirements.
Total utility increases if one more unit of a product is purchased and marginal utility is positive
a. True b. False Indicate whether the statement is true or false
Answer the following questions true (T) or false (F)
1. A fundamental assumption in game theory is that players do not interact with each other. 2. In a Nash equilibrium, all players select non-dominant strategies. 3. Price leadership is a form of explicit collusion where one firm in an oligopoly announces a price change and expects all other firms to follow suit.
A game in which one firm's gain must equal the other firm's loss is called a:
A. Positive-sum game B. Zero-sum game C. Negative-sum game D. One-time game