Refer to the table at right. If the price is? $6, the perfectly competitive firm should produce

A ________ is an extensive -form representation of a game

A) payoff matrix B) game tree C) Nash equilibrium D) pure strategy

The firm's demand curve for labor is

A) the marginal revenue product curve for labor. B) the demand curve for the good produced divided by the price of the good. C) the marginal physical product curve for labor divided by the price of the good. D) the marginal physical product curve for labor multiplied by the price of labor.

If the fixed costs are relatively large, a relatively good approximation of the correct transfer price is

a. average costs b. average fixed costs c. average variable costs d. the market price

Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to real GDP and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?

a. Real GDP falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). b. Real GDP rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). c. Real GDP falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). d. Real GDP and net nonreserve-related international borrowing/lending remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.