Wal-Mart was one of the most successful firms of the 1970s and 1980s. Much of Wal-Mart's success can be credited to its expansion strategy: they rushed to open the first discount store in small towns that could only support one discount store. In the language of game theory:
A) Wal-Mart was a dominant firm.
B) Wal-Mart made empty threats.
C) Wal-Mart employed a maximin strategy.
D) Wal-Mart employed a preemptive strategy.
D
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Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180 B) $100 C) $80 D) $20
A lump sum tax can create an excess burden.
A. True B. False C. Uncertain
In finance, the leverage ratio refers to:
A. how a firm decides to borrow funds that it doesn’t have. B. using borrowed money to pay for investments. C. ratio of assets it has relative to its equity. D. ratio of assets it has relative to debt.
The largest component of aggregate expenditure is
a. consumption spending b. government purchases c. net exports d. capital expenditures e. investment spending