Communication between players prior to the start of a game that does NOT affect the payoffs is called
A) cheap talk.
B) ineffective bargaining.
C) a binding verbal contract.
D) pareto efficient.
A
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If the structural deficit is $800 billion and the cyclical deficit is $600 billion, the actual budget deficit is
A) $200 billion. B) $800 billion. C) $1,400 billion. D) $600 billion. E) None of the above answers is correct.
Which of the following is true ofthe Food, Conservation, and Energy Act of 2008?
a. It continued the subsidies tied to farm prices that comprised the major share of transfers to farmers. b. The act provided support for the development of bio-fuelsintended to supplement gasoline for automobiles.c. It continued large subsidies to American farmers, which makes the US very different from most industrialized nations, which offer few agricultural subsidies and whose farmers operatein a competitive market. d. It drastically reduced both direct subsidies and subsidies tied to farm prices.
In the ISLM framework, an expansionary fiscal policy causes aggregate output to ________ and the interest rate to ________, everything else held constant
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
The threat of substitutes is held constant in Porter's five forces model
Indicate whether the statement is true or false