In the case of global pollution, the Nash equilibrium shows that if one nation does not regulate its pollution, other nations:
a. will have to regulate even more strictly.
b. will not regulate either because of international price competition.
c. will regulate but will bring charges in the WTO against the other .
d. will regulate, so they will not harm their own citizens.
Ans: b. will not regulate either because of international price competition.
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The legally established value of a country's monetary unit in terms of another under the Bretton Woods system was called the
A) exchange rate. B) dirty float. C) special draw. D) par value.
Refer to the information provided in Table 8.5 below to answer the question(s) that follow. Table 8.5Number of SwordsTVCMCAVCTFCTCAFCATC0???? 50??1?25?????2??????47.503??23.33????4????150??5135??????Refer to Table 8.5. If Phoebe produces four swords, her average fixed costs are
A. $2. B. $10. C. $12.50. D. $50.
Economic theory is a necessity, not a luxury. This statement is true because theory
A. always leads to practical and useful policy. B. can prevent depressions in the economy. C. substitutes for vast amounts of data. D. provides a structure for organizing and analyzing data. E. always leads to accurate predictions.
Decreased investment spending in the economy would be a possible result of
A) an open market sale of bonds by the Fed. B) an increase in the money supply. C) an open market purchase of bonds by the Fed. D) a decrease in interest rates.