In a sequential game, if Irene decides to enter the market, what would be Mattie's best response?
a. Accommodate
b. Fight
c. Run away
d. Shut down
a
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If the multiplier in the economy is 3, the marginal propensity to save (MPS) must be
A) 3. B) 0.67. C) 0.33. D) 1.
If depository insurance exists, bank managers may make riskier loans than they would have otherwise, which is an example of
A) adverse selection. B) regulatory lag. C) irrational behavior. D) moral hazard.
Other things constant, which of the following would tend to increase the demand for Disney World vacations?
A) A rise in the price of Hawaiian vacations (a substitute for Disney World) B) A rise in income, if Disney World vacationing is a normal good C) A fall in the price of air travel (a complementary good) D) New information that Disney World will raise its prices once the summer season is over E) All of the above.
Throughout U.S. history, the debt-GDP ratio has jumped sharply higher during
A) cyclical expansions. B) stock market crashes. C) wars. D) Presidential election years.