Game theory was developed in the 1940s by John von Neuman, a mathematician, and an economist named
A) John Nash. B) Oskar Morgenstern.
C) Milton Friedman. D) John Maynard Keynes.
B
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The practice of borrowing short and lending long
A) pools risk. B) minimizes the cost of monitoring borrowers. C) creates liquidity. D) All of the above answers are correct.
Dr. Goldfinger decides to invest in companies which he believes can "improve the productivity and efficiency" of health care services. What would Dr. Goldfinger need to do to try to achieve allocative efficiency?
A) invest in companies that produce up to the point where the marginal cost of the last unit produced is zero B) invest in companies that produce goods and services based on consumer preferences C) invest in companies that produce goods and services at the lowest possible cost D) invest in companies that fairly distribute their products and services
Every economy must ration goods in some way because of
a. overpopulation. b. poorly-performing markets. c. the income gap between rich and poor. d. scarcity.
When a bank obtains a loan from the Fed, it follows that the
A) simple deposit multiplier rises. B) bank (itself) can create more loans. C) bank's reserves decrease. D) bank's reserves remain unchanged. E) none of the above