P x Q is:
a. A stock value.
b. A flow value.
c. Totally unrelated to stocks and flows.
d. Equal to real GDP
.B
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In 2008, the many people became unable to make payments on their mortgages and instead defaulted on them. As a result, the ________ of loanable funds curve shifts ________ and real interest rate ________
A) supply; leftward; increases B) demand; leftward; increases. C) supply; rightward; falls. D) demand; rightward; decreases.
In the above table, the average fixed cost at 4 units of output is
A) $1.00. B) $4.50. C) $4.70. D) $4.80.
Deadweight loss is
A) the amount of taxes that consumers and monopolists pay. B) the loss of output when a perfectly competitive firm becomes a monopolist. C) a loss of benefit to consumers in a monopoly that no one else in society can obtain. D) the price that consumers pay for a product in excess of the average cost of producing it.
What is the Nash equilibrium of this simultaneous game?
a. Steal, Vigilant b. Steal, Not vigilant c. Not steal, Vigilant d. The game has no Nash equilibrium