Refer to the information provided in Table 22.4 below to answer the question(s) that follow.
Table 22.4
Refer to Table 22.4. The total number of people employed is
A. 190 million.
B. 120 million.
C. 114 million.
D. 57 million.
Answer: C
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Which of the following is definitely NOT an example of a natural monopoly?
A) local water distribution companies B) urban rail services C) local electric power and gas distribution companies D) urban retail stores
When externalities are present in market activity and production occurs at P = MC,
a. the market generates an optimal distribution of resources b. the market does not generate an optimal distribution of resources c. a free-rider condition always raises price d. P = ATC as well e. the firm suffers economic losses
According to the Fisher effect, if inflation rises then the nominal interest rate rises
a. True b. False Indicate whether the statement is true or false
Consider the game above. at the mixed strategy equilibrium, the probability that player 2 assigns on Z =
