Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Which of the following statements is true?
A. The upper-right cell is the only Nash equilibrium.
B. Both the upper-left and lower-right cells are Nash equilibria.
C. Both the lower-left and upper right cells are Nash equilibria.
D. The lower-left cell is the only Nash equilibrium.
Answer: B
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The main policy making body of the Federal Reserve System is the
A) Federal Monetary Conditions Board. B) Board of Presidents of the Federal Reserve Banks. C) Board of Governors of the Federal Reserve System. D) Federal Open Market Committee. E) Board of Advisors.
Which statement is not consistent with Joseph Schumpeter's hypothesis?
a. Monopolies use profit to invest in research and development. b. Monopolies end up being more efficient than competitive firms. c. Monopoly prices end up being lower than prices generated in perfect competition. d. Perfect competition is more conducive to innovation than monopoly. e. Perfect competition is more efficient than monopoly.
The height of the demand curve for a product indicates the
a. minimum price consumers are willing to pay for an additional unit of it. b. minimum quantity consumers are willing to purchase at the current price. c. maximum price consumers are willing to pay for an additional unit of it. d. minimum price required to induce suppliers to produce an additional unit of it.
If the interest rate in India increases, how will it affect the net exports of India?
What will be an ideal response?