Under the Marshall Plan (1948–51), the U.S. granted resources to and transfused U.S. dollars into European countries devastated by World War II. In return, the U.S
requested coordinated plans of European recovery that promoted efficient and effective production in private markets with minimal government interference. Indicate whether the statement is true or false
True
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Fiscal policy has shorter implementation lag times than monetary policy
Indicate whether the statement is true or false
Player 1 and Player 2 are playing a game in which Player 1 has the first move at A in the decision tree shown below. Once Player 1 has chosen either Up or Down, Player 2, who can see what Player 1 has chosen, must choose Up or Down at B or C. Both players know the payoffs at the end of each branch.
Suppose Player 1 and Player 2 enter into a binding agreement in which Player 1 agrees to pay Player 2 a fixed amount of money to get Player 2 to play Up when it is Player 2's turn. How much will Player 1 have to pay Player 2 to get Player 2 to play Up?
A. at least $20. B. $0. C. at least $10. D. at least $50.
Real GDP is the
A. Value of final output produced, measured in current prices. B. GDP minus depreciation. C. Value of final output produced, adjusted for changing prices. D. Income earned by current factors of production.
Economic analysis assumes "rational or purposeful behavior," which means that people will pursue decisions or actions
A. with minimal consideration for their emotions. B. always based on full or complete information. C. that will increase their well-being. D. without any logical faults.