The rationality assumptions of game theory:
A. sometimes hold in the real world.
B. make game theory irrelevant.
C. always hold in the real world.
D. never hold in the real world.
Answer: A
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Using the money demand and money supply model, an increase in money demand would cause the equilibrium interest rate to
A) increase. B) decrease. C) not change. D) increase, then decrease.
In the circular flow diagram, money income and revenue ______.
a. are flowing in the same direction
b. form a hub that other items flow around
c. are both elements of the input market
d. represent forms of capital
What is frictional unemployment?
What will be an ideal response?
When numerous Japanese companies buy $100,000,000 worth of goods or services from U.S. producers, ceteris paribus, there will be
A) appreciation in the value of the yen against the dollar. B) depreciation in the value of the yen against the dollar. C) depreciation of the dollar against the yen. D) no change in values of the currencies.