Costs paid in money to hire a resource is
A) normal profit.
B) an implicit cost.
C) an explicit cost.
D) an alternative-use cost.
E) economic profit.
C
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One reason that DOWN,RIGHT is not a NASH equilibrium is that
a. Player B receives a payoff of 8 as opposed to the payoff of 20 that he would receive if he changed his strategy. b. Player B receives a payoff of 20 as opposed to the payoff of 30 that he would receive if he changed his strategy. c. Player A receives a payoff of 20 as opposed to the payoff of 30 that he would receive if he changed his strategy. d. DOWN, RIGHT is a Nash equilibrium.
What is "market signaling"?
What will be an ideal response?
A recession is a period during which
a. aggregate demand, production, and unemployment rises. b. aggregate demand, production, and unemployment falls. c. aggregate demand, production, and unemployment remain the same. d. aggregate demand and production rises while unemployment remains the same. e. aggregate demand and production falls while unemployment rises.
Another benefit from entering a currency union that is not optimal would include:
A) the idea that economies interconnected in a currency union with increased trade also develop a symmetry of demand shocks. B) the reduction of interdependence and an increase in self-sufficiency. C) the cessation of disagreement over trade protection. D) the possibility of increasing the currency area.