Refer to Scenario 6.1. Suppose the friends are forced by government to combine their businesses and share what they make. With this revision to the scenario, the dominant strategy is for Tasha to work ________ and for Gloria to work ________
A) extremely hard; extremely hard
B) extremely hard; somewhat hard
C) somewhat hard; extremely hard
D) somewhat hard; somewhat hard
D
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According to this Application, the Fed injected large amounts of reserves into banks during the 2008 financial crisis. The Fed needs to make sure that, in the long run, banks do not loan out too many of these reserves or the result will be
A) additional unemployment. B) higher inflation. C) higher interest rates. D) a smaller money multiplier.
Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand for products ________ the demand for bakers and ________ the equilibrium wage rate paid to bakers
A) increased; raised B) decreased; raised C) increased; lowered D) decreased; lowered
Vertical equity refers to a tax system in which individuals with higher incomes pay more in taxes than individuals with lower incomes
a. True b. False Indicate whether the statement is true or false
Which of the following was the nation's first true central bank?
(A) Federal Deposit Insurance Corporation (B) Bank of the United States (C) Federally chartered bank of the Civil War (D) Federal Reserve System