An example of a cooperative game would be
A) oligopoly.
B) monopolistic competition.
C) a cartel.
D) perfect competition.
Answer: C
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Arguments that economic growth must be constrained by environmental problems and limits of natural resources ignore the fact that economic growth can:
A. occur with only benefits and no economic costs. B. take the form of improved quality as well as increased quantity. C. increase both average labor productivity and the share of population employed. D. be measured in both nominal and real terms.
The total quantity of an economy's final goods and services demanded at different inflation rates is
A) the aggregate supply curve. B) the aggregate demand curve. C) the Phillips curve. D) the aggregate expenditure function.
Statistical studies indicate that the liquidity trap
A) occurs during most recessions. B) occurs during inflationary periods. C) occurred only during the Great Depression. D) has not occurred.
If a central bank engages in an unsterilized foreign-exchange intervention with the intention of raising the foreign-exchange value of its currency,
A) the central bank's holdings of international reserves will fall. B) the domestic money supply will rise. C) domestic interest rates will fall. D) it will buy foreign assets.