If two partners have a firm with more debt than assets,
a. the business is a success
b. the partners are equally liable for the debt
c. there is a limit to their personal liability
d. each one's liability is limited to the investment made in the business
e. the burden of debt is proportionate to the partners' original investment
B
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Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
Suppose Apricot makes its decision first, and then Macrosoft makes its decision after seeing Apricot's choice. What will happen if, before Apricot chooses, Macrosoft announces that it is going to develop a touch-screen t-shirt no matter what Apricot does?
A. Apricot will develop a touch-screen t-shirt, and Macrosoft will not because Macrosoft's threat is not credible. B. Both Apricot and Macrosoft will develop a touch-screen t-shirt because neither company will want to back down. C. Neither Apricot nor Macrosoft will develop a touch-screen t-shirt because they will both realize that they are in a no-win situation. D. Macrosoft will develop a touch-screen t-shirt, and Apricot will not because it's not in Apricot's interest to develop a touch-screen t-shirt if Macrosoft also develops one.
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
In the Keynesian model, consumption
A. and saving are positively related to income. B. and saving are negatively related to the real interest rate. C. is positively related to the interest rate but negatively related to a temporary change in income. D. is positively related to income but saving is not systematically related to either income or interest rates.
Only ________ percent of the U.S. population is served by a system of sewers and adequate water treatment plants.
A. 40 B. 70 C. 50 D. 60