What three characteristics do all games have in common?
What will be an ideal response?
The all have rules, strategies, and payoffs.
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Which of the following will shift the aggregate demand curve to the right, ceteris paribus?
A) a decrease in disposable income B) a decrease in expected profits for firms C) an increase in net exports D) an increase in interest rates
A country should export only those goods for which, relative to its trading partners, it has the
a. absolute advantage b. highest opportunity cost c. lowest production possibilities d. strongest demand e. lowest opportunity cost
Which of the following would lead to an increase in the demand for fast food in Chicago?
a. An increase in Chicago's population b. A decrease in average consumer income in Chicago. c. A front page newspaper article in Chicago stating that fast food is very bad for your health. d. A decrease in the average price charged by sit-down restaurants.
Briefly explain the effect of pursuing expansionary policy during a time of full employment.
What will be an ideal response?