38. Consider the following game. There are ten churches in town: nine are Catholic and one is Eastern Orthodox. All churches conduct their divine services at 10am on Sunday morning. You and your friend, without communication, agree to meet at a church service. If you fail to meet at the same church, then you are sad and become a Doomer. What is this game's focal point? Remember that you cannot communicate about this. (A) You meet at any of the Catholic churches. (B) You meet at any of the churches - denomination does not matter. We're all the same bro. (C) You meet at the Orthodox church. (D) There is no focal point. 39. Consider a fractional-reserve banking system in which an initial deposit of $1,000 can generate up to $4,000 in money. What is the reserve ratio? (A) 4 percent. (B) 5 percent. (C) 25 percent. (D) 75 percent.

38. Consider the following game. There are ten churches in town: nine are Catholic and one is Eastern Orthodox. All churches conduct their divine services at 10am on Sunday morning. You and your friend, without communication, agree to meet at a church service. If you fail to meet at the same church, then you are sad and become a Doomer. What is this game's focal point? Remember that you cannot communicate about this. (A) You meet at any of the Catholic churches. (B) You meet at any of the churches - denomination does not matter. We're all the same bro. (C) You meet at the Orthodox church. (D) There is no focal point. 39. Consider a fractional-reserve banking system in which an initial deposit of $1,000 can generate up to $4,000 in money. What is the reserve ratio? (A) 4 percent. (B) 5 percent. (C) 25 percent. (D) 75 percent.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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