In a repeated game, punishments that result in heavy damages are an incentive for players to adopt the strategies that result in a ________ equilibrium
A) contestable
B) strategic
C) cooperative
D) winner-share-all
C
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Which of the following appears as a liability on the Federal Reserves balance sheet?
A) U.S. government securities owned outright B) Commercial bank deposits C) Gold certificates D) Cash items in the process of collection
Use the following production possibilities tables to answer the next question.Germany's Production Possibilities ABCDEFAutos (millions)048121620Chemicals (millions)4032241680United States' Production Possibilities ABCDEFAutos (millions)03691215Chemicals (millions)60483624120Assume that prior to specialization and trade Germany and the United States both produced combination C. Now if each nation specializes according to its comparative advantage, the resulting gains from specialization and trade will be
A. 6 million units of autos and 8 million units of chemicals. B. 6 million units of autos. C. 8 million units of autos and 6 million units of chemicals. D. 8 million units of autos.
The idea that it takes 80 percent of your time to clean up the last 5 percent of your house illustrates that
A) the marginal cost of cleaning up slopes downward. B) the marginal cost of cleaning up slopes upward. C) the marginal benefit of cleaning up is constant. D) the marginal benefit of cleaning up slopes upward.
If a society acquires more human capital, per capita production will fall unless it gets more physical capital too.
Answer the following statement true (T) or false (F)