Mechanism designers start by building models and then look for problems that their models can solve.
Answer the following statement true (T) or false (F)
False
Mechanism design begins with the desired outcome and then selects the appropriate coordination mechanism to solve the policy issue.
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In the 2000s, government budget deficits became larger as a percent of GDP
a. True b. False
Which of the following statements is correct?
a. Interest would not exist in a nonmonetary economy. b. The present value of a future dollar payment is inversely related to both the interest rate and to how far in the future the payment will be received. c. A "positive rate of time preference" means that an individual would rather save than consume. d. During an extended inflationary period, the money (or nominal) interest rate will usually be lower than the real rate of interest.