Refer to the payoff matrix. Which cell represents the outcome of this game?
A. A.
B. B.
C. C.
D. D.
D. D.
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Which characteristic of a pure public good is linked to poorly-defined property rights? Explain your answer
What will be an ideal response?
Refer to Table 9.1. Use the rule of thumb to determine in which quarter Gigantica first entered a recession during the years 2010-2012
A) 2010 Q4. B) 2011 Q2. C) 2011 Q4 D) Gigantica did not enter a recession from the years 2010-2012.
If a firm is earning a positive economic profit, it means that it:
A. should invest its resources in other business opportunities. B. has an opportunity cost that is larger than what the firm is currently earning. C. operating in the long run in a perfectly competitive market. D. is using its resources in the most profitable way.
When the government cuts taxes,
A. the aggregate demand curve shifts to the left. B. the short-run aggregate supply curve shifts to the left. C. the aggregate demand curve shifts to the right. D. the long-run aggregate supply curve shifts to the left.