If a player has a strategy where one course of action outperforms all others no matter what other players do, that strategy is
A) a prisoner's dilemma.
B) dominated.
C) dominant.
D) a winner.
C
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Which of the following is the most frequently used tool the Fed uses to control the supply of money?
a. The discount rate. b. The reserve requirements. c. Open market operations. d. The 30-year home-mortgage interest rate.
If the CPI was 101.7 in 2006 and 101.5 in 2007, it can be concluded that
a. 2001 was the base year b. all goods were more expensive in 2007 than in 2006 c. all goods were less expensive in 2007 than in 2006 d. all goods were less expensive in 2006 than in 2007 e. the price level fell from 2006 to 2007
Economic takeoff:
A. occurs when development becomes self-sustaining. B. will eventually occur in all developing countries. C. typically occurs in the absence of foreign investment. D. has yet to occur in any developing country.
In the short run, the perfectly competitive firm will always earn an economic profit when
A. P > ATC. B. P = MC. C. P = ATC. D. P > AVC.