The Treasury bill auction is over when the market reaches the
A) highest bid.
B) stop-out price.
C) discount price.
D) optimal price.
B
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At Revolution Doughnuts in Fort Collins, Colorado, a cup of coffee or a doughnut is $1. Suppose Hannah loves going to Revolution Doughnuts and usually buys 2 doughnuts and 1 cup of coffee
On the way to the shop, Hannah finds an extra $2 dollars in change in her car and buys an extra doughnut and cup of coffee. This means A) doughnuts are an inferior good and coffee is a normal good for Hannah. B) doughnuts are a normal good and coffee is an inferior good for Hannah. C) doughnuts and coffee are normal goods for Hannah. D) doughnuts and coffee are inferior goods for Hannah.
The above figure shows the payoff matrix for two firms, A and B, choosing to produce a basic computer or an advanced computer. The dominant strategy for firm A is
A) producing an advanced computer. B) producing a basic computer. C) copying firm B's action. D) Firm A does not have a dominant strategy.
The existence of many discouraged workers in an economy may cause us to
a. overstate the employment rate b. understate the employment rate c. overstated the unemployment rate d. understate the unemployment rate e. overstate the value of GDP
Suppose Luke values a scoop of Italian gelato at $4 . Leia values a scoop of Italian gelato at $6 . The pre-tax price of a scoop of Italian gelato is $2 . The government imposes a "fat tax" of $3 on each scoop of Italian gelato, and the price rises to $5 . The deadweight loss from the tax is
a. $1. b. $2. c. $3. d. $4.