If all firms expect greater demand for their products or services, they will hire _____ resources like labor and capital and the economy will experience _____

The starting point of many methods for predicting equilibrium strategy in sequential games is

a. designing proactive reactions to rival actions b. information sets c. uncertain outcomes d. backwards induction based on an explicit order of play e. endgame analysis

Imagine the exchange rate between the British pound (£) and the U.S. dollar ($) is fixed at $1.40/£ and capital flows freely between Great Britain and the U.S. Explain what the price of shares of stock in XYZ Inc. would be selling for in London if they are $80 per share in the U.S. and why.

What will be an ideal response?

Which of the following examples would most likely involve a person earning minimum wage?

a. Fifty-year-old Koki works as marketing specialist for 20 years. b. Twenty-year-old Catherine works as an office assistant for a large corporation. c. Fifteen-year-old Sean works as a caddy while his parents earn $100,000 a year. d. Thirty-year-old Tamar works in a factory while her husband teaches high school.

According to the contestable market model, the higher an industry's concentration ratio, the more profitable the industry.

Answer the following statement true (T) or false (F)