A ________ describes the possible moves in a game in sequence and lists the payoffs to each possible combination of moves.
A. payoff matrix
B. decision tree
C. multi-period game
D. game graph
Answer: B
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Which of the following will NOT be included in a bank's liability?
A) Short-term borrowing by the bank B) Demand deposits held with the bank C) Cash equivalents of the bank D) Long-term debt of the bank
All of the following might be considered rent-seeking behavior by firms, except one. Which is the exception?
a. bribes to government officials b. money spent on lobbying government officials c. advertisements describing the firm's position on an issue under legislative review d. money spent on advertising for new products e. time spent testifying before state and federal committees
The total quantity of output producers are willing and able to supply at alternative price levels in a given time period is
A. Aggregate supply. B. Market supply. C. Market demand. D. Aggregate demand.
Advertising:
A. is valuable because it provides free information about products and prices to consumers. B. is harmful because it creates a false sense of differentiation, driving prices up unnecessarily. C. Neither A nor B is true. D. Both A and B are true.