Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. The slope of Country A's production possibilities frontier is _______, and Country B's is __________.
A. 5; 3
B. 30; 3
C. 1/5; 1/3
D. 1/5; 1/3
A. 5; 3
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By committing to reduce one's options during a sequential game, a player can force a change in his opponents' strategy, and that commitment strategy results in a:
A. payoff that he likely would have gotten anyway. B. cooperative equilibrium. C. payoff that would otherwise be out of reach. D. negative-negative outcome.
With perfect price discrimination, the firm faces a constant marginal revenue
a. True b. False
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What will be an ideal response?
"Monetary policy can be described either in terms of the money supply or in terms of the interest rate.". This statement amounts to the assertion that
a. rightward shifts of the money-supply curve cannot occur if the Federal Reserve decides to target an interest rate. b. the activities of the Federal Reserve's bond traders are irrelevant if the Federal Reserve decides to target an interest rate. c. changes in monetary policy aimed at expanding aggregate demand can be described either as increasing the money supply or as increasing the interest rate. d. our analysis of monetary policy is not fundamentally altered if the Federal Reserve decides to target an interest rate.