Refer to Figure 12-5. The firm's manager suggests that the firm's goal should be to maximize average profit. If the firm does this, what is the amount of profit that it will earn?
A) $6,600 B) $6,750 C) $12,150 D) $36,000
A
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As the baby boomers in America grow old, how would the market for health-care workers be affected?
A. Supply increases and wages decrease. B. Supply decreases and wages increase. C. Demand decreases and wages decrease. D. Demand increases and wages increase.
According to the liquidity premium theory, what does a flat yield curve indicate?
A) Short-term interest rates are expected to remain stable. B) Short-term interest rates are expected to rise. C) Short-term interest rates are expected to fall. D) Long-term interest rates are expected to fall.
In a steady-state, sustained increases in the capital-to-labor ratio are only possible if
a. the savings rate increases. b. population growth decreases. c. depreciation decreases. d. technology increases. e. all of the above.
In the game in Scenario 13.10, there is
A) a mixed strategy equilibrium, and no other. B) a mixed strategy and a pure strategy equilibrium. C) a mixed strategy and two pure strategy equilibria. D) a mixed strategy and four pure strategy equilibrium. E) no equilibrium in either mixed or pure strategies.