If the equation y = 15 - 4x was plotted, the:
A. vertical intercept would be -4.
B. vertical intercept would be +4.
C. vertical intercept would be +9.
D. slope would be -4.
Answer: D
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The Nash equilibrium is
a. a pair of strategies, one for each player , in which player A's strategy is the best response while player B's is not b. a pair of strategies, one for each player , in which player B's strategy is the best response while player A's is not c. a pair of strategies, one for each player, in which each player's strategy is the best response to the other's d. a pair of strategies, one for each player, in which neither strategy is a best response
Assume individuals consider only the short run effects of changes in future macro variables when forming expectations of future output and future interest rates. Suppose current taxes are cut and that individuals expect future taxes to decrease. Given this information, we know with certainty that
A) current output and the current interest rate will both increase. B) current output will increase. C) the current interest rate will increase. D) the current output effects are ambiguous.
The labor force includes all of the following individuals who are 16 years or older EXCEPT
A. the unemployed. B. the employed. C. people who are retired and not actively seeking work. D. people who have never been in the labor force but have just found a job.
Refer to the information provided in Figure 28.3 below to answer the question(s) that follow.
Figure 28.3Refer to Figure 28.3. A minimum wage of $12
A. will lead to unemployment of 10. B. will lead to unemployment of 20. C. will lead to unemployment of 40. D. will have no effect because the minimum wage is set above the equilibrium wage and for a minimum wage to have any effect on the labor market it must be below the equilibrium wage.