Refer to Figure 3.1. If Marge and Homer both confess to the crime, what is Marge's payout?
A) 1 year
B) 2 years
C) 7 years
D) 15 years
C
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An economy that has many unemployed workers and idle factories is not operating efficiently
a. True b. False Indicate whether the statement is true or false
An upward-sloping supply curve shows that: a. buyers are willing to pay more for particularly scarce products
b. suppliers expand production as the product price falls. c. suppliers are willing to increase production of their goods if they receive higher prices for them. d. buyers are willing to buy more as the product price falls. e. buyers are not affected either directly or indirectly by the sellers' costs of production.
If the price of labor rises relative to the price of capital, the cost-minimizing ratio of capital usage to labor usage (i.e., the ratio K/L) will
A. be unchanged. B. decrease. C. increase. D. cannot determine without more information
When trying to move the economy out of recession, the Republican Party is more likely than the Democratic Party to focus on
A. monetary policies. B. demand-side and supply-side policies. C. supply-side policies. D. demand-side policies.