Based on the table, what is Barry's marginal benefit from the 40th slice of pizza?
A) $3
B) $5.50
C) $0.50
D) $12
A
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The term "market" refers to
A) physical structures only. B) locations where buyers and sellers physically meet. C) any arrangement that enables buyers and sellers to get information and trade with one another. D) trading arrangements that have been approved by the government.
Suppose the economy is producing at the natural rate of output. An open market sale of bonds by the Fed will cause ________ in real GDP in the long run and ________ in inflation in the long run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
Andre Agassi, a star tennis player, is playing the number one player in the world, Roger Federer
Before the match, Agassi decided that he would serve 20 percent of his serves to Federer's backhand, 30 percent of his serves to Federer's forehand, and 50 percent of his serves straight at Federer. In the language of game theory, this is known as: A) a pure strategy. B) a dominant strategy. C) a mixed strategy. D) a maximin strategy.
In a "pure exchange" market:
a. resources are owned only by the government. b. resources are owned by few people. c. people trade money for goods that are produced in the domestic economy. d. there is no production and people trade money for goods that already exist.