The market demand curve indicates
a. the minimum price someone would be willing to pay for each unit of a good
b. the cost of producing each unit of a good
c. the price someone pays for each unit of a good
d. how many people will purchase a good at each possible price
e. the maximum price someone would be willing to pay for each unit of a good
E
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In a prisoner's dilemma, the Nash equilibrium occurs where
A) neither person ends up with their best outcome. B) both end up with their best outcome. C) only one ends up with his best outcome. D) the one who goes first ends up with his best outcome.
Which of the following is the best example of an activity that would be undertaken by an entrepreneur?
a. Buying and selling of stocks and bonds. b. Starting a new business. c. Working on an assembly line. d. Running for political office.
National economic policies are usually set by the local government in the U.S., making it the focus of economic discussions
a. True b. False Indicate whether the statement is true or false
Which of the following leads to a lower level of unemployment in the long run?
a. both an increase in the size of the money supply and an increase in the money supply growth rate b. an increase in the size of the money supply but not an increase in the money supply growth rate c. an increase in the money supply growth rate, but not an increase in the size of the money supply d. neither an increase in the size of the money supply nor an increase in the money supply growth rate