Asset price "bubbles" are more likely to occur when interest rates are relatively low.
Answer the following statement true (T) or false (F)
True
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The statement "If Harvey goes to Subway then Candice should go to Subway, and if Harvey goes to Taco Bell, then Candice should go to Taco Bell" is an example of locating equilibria by using the technique known as
A) mutual interdependence. B) cooperative coordination. C) cell-by-cell inspection. D) best-response analysis.
A "Prisoners' Dilemma" game demonstrates how ____ is often rational for individuals even though ____
a. the failure to cooperate; cooperation would make everyone worse off b. the failure to cooperate; cooperation would make everyone better off c. cooperative behavior; cooperative behavior might make everyone worse off d. All of the above can be demonstrated with a "Prisoners' Dilemma" game.
In the twelfth century, the bulk of world population lived in:
a. Asia b. Africa c. Europe d. The European offshoots e. none of the above
In the long run, an increase in consumer spending would cause output to ________ and the price level to ________.
A. stay constant; rise B. stay constant; stay constant C. rise; rise D. rise; stay constant