City streets, sewage systems, and police protection are all examples of
a. public goods
b. private goods
c. exclusive goods
d. rival goods
e. consumer goods
A
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If there is a combination of strategies in which each player's action is the best response to the actions of other players, then there is
A) a Boyes equilibrium. B) an unstable equilibrium. C) a complementary equilibrium. D) a Nash equilibrium.
A successful cartel may end up charging the ____ price and obtaining ____ profits.
A. monopolistic competition; zero economic B. oligopoly; monopoly C. monopoly; zero economic D. monopoly; monopoly
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
In making policies about the nation’s money supply, the Federal Reserve Board
A. operates as an independent entity. B. must consult each member bank. C. must consult with Congress. D. must coordinate all activity with the White House.