The importance of international trade in the U.S. economy
A) has been decreasing and is expected to continue to decrease.
B) has been decreasing but is expected to start to increase.
C) has been increasing and is expected to continue to increase.
D) has been increasing but is expected to decrease in the future.
Answer: C
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Answer the following statement(s) true (T) or false (F)
1. When both players have dominant strategies, there is only one Nash equilibrium. 2. The Battle of the Sexes game has two Nash equilibria, neither of which is Pareto optimal. 3. All outcomes in the Copycat Game are Nash equilibria. 4. A solution concept is any way of analyzing a game which leads to the discovery of a Nash equilibrium which solves the game. 5. The concept of Nash Equilibrium is an important solution concept because it helps make predictions.
Prescott's calibrated RBC model was able to match the data in terms of the ________ between many key macroeconomic variables and GNP; that is, in terms of how closely they moved with GNP over the business cycle
A) correlation B) interdependence C) gamma coefficient D) sigma ratio
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.
Behavioral economic theories are developed based on the following, except:
A. Assuming that people always make rational decisions and choices B. Observing people's actual behavior, including irrational behavior C. Trying to explain people's tendency to make systematic errors in certain situations D. Dropping the neoclassical assumption that people are fundamentally rational