A schedule of amounts of a good that people will purchase at various prices during a specific time period holding other factors constant is
A) a market.
B) supply.
C) demand.
D) the market clearing price.
Answer: C
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Which of the following is true of an extensive-form game?
A) The sum of the payoffs to the players in the game is always constant. B) It involves simultaneous decision making by the players. C) It involves sequential decision making by the players. D) The players in the game earn equal payoffs in equilibrium.
If nominal GDP exceeds real GDP for a specific year, then the GDP deflator must be
A) equal to 100. B) greater than 100. C) less than 100. D) less than 0.
Out-of-pocket expenses such as wages and raw materials are
A. implicit costs. B. explicit costs. C. direct costs. D. an owner-provided capital cost.
The world's largest debtor nation in terms of debt owed to foreign citizens and governments is:
A. Russia. B. Argentina. C. Japan. D. The United States.