What are the two ways demand curves can be interpreted?
What will be an ideal response?
Demand curves can be used to find either:
1 ) the quantity demanded at a given price. In this view, the curve is a demand curve;
2 ) the maximum price people are willing to pay for a given quantity. In this view the curve is a marginal benefit curve.
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In a repeated prisoner's dilemma situation, cooperation can be achieved _____
a. if player A cooperates as long as player B cooperates b. if player A continually defects on player B c. if player A cooperates regardless of what player B does d. never
When real GDP increases, this implies that the production of goods and services has risen
a. True b. False Indicate whether the statement is true or false
Kayla faces risks and she pays a fee to ABC Company; in return, ABC Company agrees to accept some or all of Kayla's risks. ABC Company is
a. a mutual fund. b. an insurance company. c. a diversified company. d. an equity-financed company.
The federal funds rate is
A. the interest rate on bonds issued by the federal government. B. the interest rate paid on reserves held with the Fed. C. the interest rate at which banks can borrow excess reserves from other banks. D. none of these.