Usury laws lead to
A. a surplus of loanable funds.
B. a shortage of loanable funds.
C. a floor under interest rates.
D. more lenders than borrowers.
B. a shortage of loanable funds.
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In the prisoner's dilemma game, each player's dominant strategy leaves her with a larger payoff than she could receive by cooperating with the other player; however, the "prisoner's dilemma" is that as a result of noncooperation she cannot chose
dominant strategy. Indicate whether the statement is true or false
The market demand for wheat is Q = 100 - 2p + 1 , where is the price of barley. If the price of wheat is $2, the price elasticity of demand
A) equals (-4/46). B) equals (-46). C) equals (-1). D) cannot be calculated without more information.
A positive supply shock causes stagflation in the short run
a. True b. False
Often, government spending increases due to log-rolling among politicians. Log-rolling is when politicians vote for which of the following?
a. projects the government leadership supports even when the citizens who elected the politician do not b. projects in their districts that are not efficient for the nation c. projects they normally would not support in return for other politicians voting for their projects d. projects that have benefits for the nation that outweigh their costs