Refer to the game between James and Theodore depicted in Figure 12.1. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Right.
B. If James chooses Down, Theodore's best response is to choose Right.
C. If Theodore chooses Left, James's best response is to choose Up.
D. If Theodore chooses Right, James's best response is to choose Up.
A. If James chooses Up, Theodore's best response is to choose Right.
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When a check is written on an account at Bank A and deposited in Bank B, the reserve account of __________ will rise and reserves of the entire banking system will __________
A) Bank A; rise B) Bank A; remain constant C) Bank B; rise D) Bank B; remain constant
________ is (are) estimated at approximately $100 billion per year.
A. Capital flight from the United States B. Remittances sent from developed countries to less developed countries C. Social overhead capital in the United States D. The value of brain drain flowing into the United States
According to Gary Becker's "Rotten Kid theorem," a child will be deterred from stealing from his siblings
a. as long as he fears that his parents will punish him. b. when parents are altruistic and treat their children equally. c. only if the probability of being caught is sufficiently large. d. if he inherits the "altruistic gene" from his parents.
The savings of individuals or corporations within a country is called:
A. private savings. B. national savings. C. public savings. D. real GDP.