A slight increase in the marginal cost of a firm definitely leads to a reduction in its output if the firm competes in the:
A. Cournot fashion.
B. Cournot fashion and Bertrand fashion.
C. Bertrand fashion.
D. Sweezy fashion.
Answer: B
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Government stabilization policy would be unnecessary if the economy automatically gravitated toward
A. full inflation. B. full employment. C. full recession. D. an inflationary gap.
Which of the following will NOT cause a shift in the demand for rewriteable DVDs?
A) a change in taste B) a change in income C) a change in the price of rewriteable DVDs D) a change in the price of rewriteable CDs
Starting with an exchange rate of $1 = ¥110, and a price tag of ¥5,000 for a Japanese good, what happens to the dollar price of the good if the yen depreciates by 4 percent?
A) the dollar price of the good rises from $45.45 to $47.72 B) the dollar price of the good falls from $45.45 to $43.64 C) the dollar price of the good falls from $550,000 to $522,500 D) the dollar price of the good rises from $550,000 to $577,500 E) ?the dollar price of the good rises falls from $450 to $427.50
The implementation of choice architecture that alters people's behavior in a deliberate and predictable way without changing economic incentives much is called:
A. shifting. B. influencing through choice. C. baiting. D. nudging.