An example of a zero-sum game is
A) exchange.
B) a consumer purchasing a used car from a used car dealer.
C) the prisoners' dilemma.
D) poker.
Answer: D
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In order to effectively price discriminate, one requirement is that a seller must be able to:
A. identify customers with different reservation prices. B. reduce costs when producing the discounted item. C. resell the product. D. avoid detection because price discrimination is illegal.
When output is below potential and the policy rate has hit the floor of zero, the resulting fall in inflation leads to ________ real interest rates, which ________ output further, which causes inflation to fall further
A) lower; increase B) higher; depress C) higher; increase D) lower; depress
An increase in oil prices will
A) shift the short-run aggregate supply curve up and to the left. B) shift the short-run aggregate supply curve down and to the right. C) cause a movement along the short-run aggregate supply curve. D) not affect the short-run aggregate supply curve.
If the economy is in a recessionary gap,
A) Real GDP is greater than Natural Real GDP. B) Real GDP is equal to Natural Real GDP. C) Real GDP is less than Natural Real GDP. D) the (actual) unemployment rate is less than the natural unemployment rate. E) a and d