___________ is the study of how people behave in strategic situations.
Fill in the blank(s) with the appropriate word(s).
Game theory
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In the classical theory of aggregate demand, a decrease in the velocity of money leads to
a. a downward shift in the aggregate demand curve, a fall in prices, and no change in output. b. an increase in the aggregate demand curve, a rise in prices, and no change in output. c. no change in aggregate demand or supply because higher velocity increases the money supply. d. an upward shift in the aggregate demand curve, a fall in prices, and no change in output.
All of the following have played a role in reducing union strength since 1970 except
a. rising service sector employment. b. foreign industrial competition. c. the Supreme Court's decision to apply antitrust laws to union organization efforts. d. "right-to-work" laws.
Table 7.2 shows labor and the quantity of shoes produced by a firm. Given the information in the table below, _____ is the average product of the third unit of labor. ? Labor Total product (pairs of shoes) 0 0 1 20 2 50 3 75 4 80 5 75
a. ?15 pairs of shoes b. ?10 pairs of shoes c. ?25 pairs of shoes d. ?45 pairs of shoes e. ?75 pairs of shoes
The purchase of a new automobile is included in
A) consumption expenditures on services. B) consumption expenditures on nondurable goods. C) consumption expenditures on durable goods. D) investment expenditures.