The part of the balance of payments that records purchases of assets a country has made abroad and foreign purchases of assets in the country is the
A) capital account.
B) current account.
C) financial account.
D) statistical discrepancy account.
C
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The opportunity cost of any action is
A) all the possible alternatives given up. B) the highest-valued alternative given up. C) the benefit from the action minus the cost of the action. D) the dollars the action cost.
The range to the right of the midpoint on a linear demand curve is
A) elastic. B) infinite. C) one. D) inelastic.
The period of time that is too short for the firm to change the quantity of certain resources used in production, known as fixed inputs, is called the short run
a. True b. False Indicate whether the statement is true or false
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. Jordan does not have a dominant strategy. B. Jordon's dominant strategy depends on Lee's choice. C. For Jordan, seeing a documentary is a dominant strategy. D. For Jordan, seeing a comedy is a dominant strategy.