A bilateral monopoly exists when there is a
A) single buyer and many sellers in the market.
B) single seller and many buyers in the market.
C) large number of buyers and sellers in the market.
D) single buyer and a single seller in the market.
D
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The formula for the growth rate of multifactor productivity is
A) a = y + bk + (1 - b)n. B) y = a + bk + bn. C) a = y - bk - (1 - b)n. D) y = a - b/k(1 - b)n.
Last year a country had 800 workers who worked an average of 8 hours and produced 12,800 units. This year the same country had 1000 workers who worked an average of 8 hours and produced 14,000 units. This country's productivity was
a. higher this year than last year. A possible source of this change in productivity is a change in the size of the capital stock. b. higher this year than last year. A change in the size of the capital stock does not affect productivity. c. lower this year than last year. A possible source of this change in productivity is a change in the size of the capital stock. d. lower this year than last year. A change in the size of the capital stock does not affect productivity.
Which set of changes is definitely predicted to raise Real GDP in the short run?
A) Wealth increases and there is an adverse supply shock. B) Individuals expect higher (future) incomes and wage rates fall. C) Business taxes rise and wage rates fall. D) The U.S. dollar appreciates and there is a beneficial supply shock. E) none of the above
A Nash equilibrium occurs if all players in a game play their best strategies
A. before their competitors do. B. without knowing what their competitors do. C. given what their competitors do. D. only if their competitors are unaware of their strategies.