Which of the following impacts would economists expect to result from chronic budget deficits?
A. Greater economic efficiency resulting from the abundance of public goods produced.
B. Permanently high levels of output and continued economic growth.
C. Greater political control over monetary policy.
D. Government control of an inefficiently large share of the economy's resources.
Answer: D
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When there is a change in the quantity demanded it means that
A) the selling price of the products has not changed. B) the number of products in inventory have increased. C) the hours the customer can buy products each day have increased. D) the quantity a consumer is willing to buy changes when the price changes.
A game of incomplete information is distinct from one of complete information in that players:
a. do not observe each others' actions. b. do not know each others' payoff functions. c. do not know the timing of moves. d. use mixed strategies.