A game in which the players explicitly coordinate their decisions to make themselves better off is a
A) cooperative game.
B) noncooperative game.
C) zero-sum game.
D) negative-sum game.
A
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Which of the following does NOT increase labor productivity?
A) increases in aggregate hours B) physical capital growth C) human capital growth D) technological advances
Stabilization policy is the name given to government economic policies designed to
a. stabilize the price level. b. shorten and/or prevent recessions. c. diminish unemployment. d. All of the above are correct.
Quantify the cost savings associated with a cost-effective abatement allocation achieved through trading.
Suppose two point sources are discharging phosphorus into Wisconsin’sFox River and face the following abatement costs for this pollutant: Point Source 1: TAC1 = 500 + 0.35(A1)2 MAC1 = 0.7A1 Point Source 2: TAC2 = 750 + 1.05(A2)2 MAC2 = 2.1A2, where A1 and A2 represent the abatement of phosphorus effluents in pounds by Source 1 and Source 2, respectively, and TAC and MAC are measured in hundreds of dollars. Assume that the state environmental authority has set the total maximum daily load (TMDL) for the Fox River. To achieve this limit, 40 pounds of phosphorus must be abated across the two point sources. Use this information to answer the following questions.
In April, market analysts predict that the price of titanium will fall in May. What happens in the titanium market in April, holding everything else constant?
A) The demand curve shifts to the right.
B) The supply curve shifts to the left.
C) The quantity demanded and the quantity supplied increase.
D) The supply curve shifts to the right.