The current level of investment depends on the current level of income
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Game Matrix IV. The Nash Equilibrium for the game is
Game Matrix IV
The following questions refer to the game matrix below.
Player A can play the strategies UP and DOWN and Player B can play the strategies LEFT and RIGHT.
a. UP, LEFT
b. UP, RIGHT
c. DOWN, LEFT
d. DOWN, RIGHT
On the long-run aggregate supply curve,
A) an increase in the price level increases the level of potential GDP. B) an increase in the price level has no effect on the aggregate quantity of GDP supplied. C) an increase in the price level reduces the aggregate quantity of GDP supplied. D) an increase in the price level increases the aggregate quantity of GDP supplied.
Explain how menu costs affect the slope of the short-run aggregate supply curve
What will be an ideal response?
The more inelastic the supply of a particular resource:
a. the higher are its transfer earnings. b. the higher is its economic rent. c. the higher are its total earnings. d. the higher is the elasticity of demand for the resource. e. the lower is the elasticity of demand for the resource.