Refer to Figure 10.1. This scenario is representative of a(n)
A) prisoner's dilemma game.
B) battle of the sexes game.
C) pure coordination game.
D) assurance game.
A
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One reason why an economy may not smoothly adjust to a macroeconomic shock is that
A) prices are flexible in the long run. B) prices are sticky in the short run. C) wages are sticky in the long run. D) prices and wages are sticky in the long run.
The story The Wizard of Oz can be interpreted as an allegory about U.S. monetary policy in the late 19th century
a. True b. False Indicate whether the statement is true or false
Today, in the United States, exports are about
A) 90 percent of GDP. B) 12 percent of GDP. C) 28 percent of GDP. D) 4 percent of GDP.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same. B. at any of the labeled points, as all of the points represent an efficient allocation of resources. C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced. D. indeterminate from this information, as we don't have any information about the society's desires.