One reason why gold and silver have served as money is that they
a. are easy to produce.
b. are easy to duplicate.
c. are durable.
d. All of the above are correct.
c
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In the figure above, the number of unemployed workers is
A) 4,000. B) 3,000. C) 2,000. D) 5,000. E) zero.
For social surplus to be maximized, the ________ buyers are actually making a purchase and the ________ sellers are selling the products
A) lowest-value; highest-cost B) highest-value; lowest-cost C) highest-value; highest-cost D) lowest-value; lowest-value
In the above figure, what is the full-employment real wage rate and quantity of hours per year?
A) $40 and 60 billion hours per year B) $50 and 100 billion hours per year C) $35 and 100 billion hours per year D) $50 and 40 billion hours per year
The "prisoner's dilemma" is a result of
a. differentiated products b. large number of participants c. game theory d. certain outcomes e. open market entry