In game theory, actions such as cheating that focus solely on short-run gains are referred to as
A. predatory behavior.
B. opportunistic behavior.
C. tit-for-tat strategic behavior.
D. territorial behavior.
Answer: B
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The international exchange rate system, which was set up just after World War II, continued (with some modifications) until the
a. recession of the early 1960's. b. middle of the Vietnam War. c. middle of the Persian Gulf War. d. early 1970's.
Assume that business investment spending rises, and the increase is funded by greater borrowing in the capital markets. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the real GDP and net nonreserve international borrowing/lending balance in the context of the Three-Sector-Model? a. Real GDP rises and net nonreserve international
borrowing/lending balance becomes more positive (or less negative). b. Real GDP rises and net nonreserve international borrowing/lending balance becomes more negative (or less positive). c. Real GDP falls and net nonreserve international borrowing/lending balance becomes more positive (or less negative). d. Real GDP and net nonreserve international borrowing/lending balance remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
The supply of money increases when
a. the value of money increases. b. the interest rate increases. c. the Federal Reserve purchases bonds. d. velocity increases.
Marginal cost
A. measures how total cost changes when input prices change. B. is less than average cost when average cost is decreasing. C. measures how total cost changes when one more unit of output is produced. D. both a and b E. both b and c