If the wages of the workers that harvest corn each fall decreases, ceteris paribus, then the
A. Demand curve for corn will shift right.
B. Supply curve for corn will shift left.
C. Supply curve for corn will shift right.
D. None of the choices are correct.
Answer: C
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The acronym NASDAQ (one of the stock exchanges) stands for
A. National Academy of Stock Dealers Automated Quotations B. New American Securities Dealers Automated Quotations C. National Association of Securities Dealers Automated Quotations D. North American Stock Dealers Automated Quotations
If the Consumer Price Index falls from one year to the next, we can most conclusively say that the economy has experienced:
A. inflation. B. hyperinflation. C. disinflation. D. deflation.
Macroeconomics, as opposed to microeconomics, includes the study of what determines the level of
A) employment in a specific industry. B) employment in the economy. C) output of a specific firm. D) output of a specific industry.
If the game in Scenario 13.13 were not played sequentially,
A) the only equilibrium would be (R2,C1 ). B) the only equilibrium would be (R1,C2 ). C) the only equilibria would be (R2,C1 ) and (R1,C2 ). D) the only equilibria would be (R2,C1 ), (R1,C2 ) and a mixed strategy equilibrium. E) there would not be any equilibrium.