In economics, the study of the decisions of firms in industries where the profits of each firm depend on its interactions with other firms is called
A) decision theory.
B) game theory.
C) market structure analysis.
D) profit analysis.
Answer: B
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Which scenario has a higher present discounted value (assume interest is compounded annually); $100 received in 3 years if the interest rate is 8% or $90 received in 2 years if the interest rate is 7.25%?
A. $100 owed in 3 years B. $90 owed in 2 years C. Both scenarios have the same present discounted value. D. It cannot be determined with information provided.
If disposable income rises from $15,000 to $20,000 and the marginal propensity to consume equals 0.9, then saving must increase by $500
a. True b. False Indicate whether the statement is true or false
The Fed never processes immigrating checks that must pass between different Federal Reserve banks
Indicate whether the statement is true or false
Much of each year's federal budget is considered "uncontrollable" because
A. Most of the current revenues and expenditures are the result of decisions made in prior years. B. It is determined by decision makers who do not have the power to change spending and taxes. C. It must be spent for purchases, as opposed to transfer payments. D. None of the choices are correct.