A ________ is a plan by one firm to price a good at marginal cost forever if the other cheats on an agreement
A) pure strategy
B) grim strategy
C) patent
D) collusion
B
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Describe the three broad categories of the U.S. budget
What will be an ideal response?
To convert a nominal GDP to a real GDP, you would use
A) the PCE deflator. B) the CPI measure. C) the GDP deflator. D) the PPI measure.
An example of moral hazard is
a. people drive less carefully in icy conditions with antilock brakes than without b. people drive as safely with more airbags as without c. football players avoid 'spearing' with their heads even with safer helmets d. people read the medicine warnings as carefully when self-medicating as with a doctor's prescription
A nation’s currency is said to depreciate when exchange rates change so that a unit of its currency can buy fewer units of foreign currency.
Answer the following statement true (T) or false (F)