Which of the following games discussed in the text is a one-shot game?
a. The classic prisoner's dilemma
b. The cola war game
c. OPEC cartel
d. McDonald's and Burger King price war
a
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Monetarists have received this label because they emphasize the role of the
A. money supply in determining aggregate supply. B. money supply in determining nominal GDP. C. Fed in making monetary policy. D. money supply in determining interest rates and investment.
Which of the following will shift the short-run industry supply curve of a perfectly competitive industry?
A. an increase in demand for the product B. an increase in consumer income C. an increase in the price of the product D. a decrease in the price of an input
A bank's commitment to provide a firm with loans up to pre-specified limit at an interest rate that is tied to a market interest rate is called
A) an adjustable gap loan. B) an adjustable portfolio loan. C) loan commitment. D) pre-credit loan line.
The real interest rate is
A. The inflation rate minus the percentage increase in average wages. B. The sum of inflation rates and unemployment rates. C. The nominal interest rate minus the anticipated rate of inflation. D. The difference between the prime rate and the rate charged by the government (the Federal Reserve) on loans.