Refer to Figure 4.8. If half of your friends go to the beach and half go to the park, you will receive a payoff of ________ if you go to the park
A) 0
B) 250
C) 500
D) You cannot determine the payoff from the data in the figure.
B
You might also like to view...
The U.S. economic data for the last 50 years indicates that
A) there is an inverse relationship between unemployment rate and inflation rate. B) there is a direct relationship between unemployment rate and inflation rate. C) during recessions the unemployment rate was always twice as high as the inflation rate. D) there has been no long-run relationship between unemployment and inflation rates.
If Helen gives up the opportunity to bake 40 cakes for each room she paints and Josh can paint one room in the time it takes him to bake 60 cakes, which of the following is true?
a. The opportunity cost of painting is higher for Helen. b. The opportunity cost of baking cakes is lower for Josh. c. The opportunity cost of painting one room is 1/40 of a cake for Helen. d. The opportunity cost of baking one cake is 60 rooms painted for Josh. e. The opportunity cost of cakes cannot be computed.
The most inclusive of all price indexes is
a. the GDP deflator b. the price level c. the CPI d. nominal index e. real index
Refer to the data. Consumption of fixed capital is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $5.
B. $10.
C. $20.
D. $30.