Which of the following is the best example of an item that a "real world" savings account is designed to cover?
What will be an ideal response?
an unexpected expenditure to repair the transmission of your car
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Which of the following is true about games in which people have different information?
A. The behavior of the participants in the game reveals little to no information. B. Participants in these games can sometimes have an incentive to mislead others through their behavior. C. Participants in these games always act in a way contrary to his immediate interests. D. These games never have a Nash equilibrium.
A market situation in which a large number of firms produce similar but not identical products is
A. an oligopoly. B. a monopoly. C. monopolistic competition. D. perfect competition.
If cream cheese and bagels are complements, then an increase in the price of cream cheese will __________ the demand for bagels.
a) increase b) not change c) increase or decrease d) decrease
Refer to the graph shown. If the government imposed a price ceiling of $4, consumer surplus would:
A. fall from 12 to 4. B. rise from 12 to 13. C. be unchanged at 12. D. fall from 12 to 8.