Which of the following is true of a simultaneous move game?
A) Players choose their actions after knowing the action of the first player.
B) All relevant benefits and costs of each action are taken into account.
C) It involves strategic interactions among a large number of players.
D) This game cannot be represented by a payoff matrix.
B
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Refer to above Table 2-2. What is the increase in real GDP between years 1 and 2 at fixed year 2 prices?
A) 2.1% B) 5.1% C) 4.4% D) 3.3%
Refer to the above table. If the price of the good produced is $10 and the wage rate is $500, then the marginal revenue product of the 5th worker is
A) $10. B) $50. C) $750. D) $4,750.
Holding all else constant, in the short run, an increase in the money supply can cause a(n)
What will be an ideal response?
The purchase and sale of government securities by the Fed is called:
A. Federal funds market B. Open market operations C. Money market transactions D. Term auction facility