A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2005 found a job paying $28,000. The CPI was 1.68 in 2005. The 1972 graduate's job paid ________ in nominal terms and ________ in real terms than the 2005 graduate's job.
A. less, less
B. more; less
C. less; more
D. more; more
Answer: C
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Answer the following statements true (T) or false (F)
1) When each firm uses the strategy that maximizes its profit, it is possible for the equilibrium result to yield the worst possible joint equilibrium for all firms. 2) If Best Lights and Bright Lights are competing in a duopoly, Best Lights' profit depends solely on the decisions of its managers. 3) Every dominant strategy equilibrium is a Nash equilibrium, but not every Nash equilibrium is a dominant strategy equilibrium. 4) Cheap talk helps firms cooperate and earn higher profit. 5) If two players are in a finitely repeated game and both players know the final period, cooperation is not possible due to the end-period problem.
Capital is a stock variable
a. True b. False
In the United States each year, approximately
a. 50% of all businesses fail. b. 25% of all businesses fail. c. 10% of all businesses fail. d. 5% of all businesses fail.
International exchange in which countries both import and export the same good is called:
A) one-way trade. B) strategic trade. C) two-way trade. D) multilateral trade.