Suppose $100 buys less in the year 2013 than in 2000. Then we can say that
A) money's store of value has decreased.
B) money's store of value has increased.
C) the economy must have been growing rapidly between 2000 and 2013.
D) the economy must have been growing slowly between 2000 and 2013.
A
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In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Short-run equilibrium output in this economy equals:
A. 1,280. B. 1,000. C. 1,160. D. 1,440.
Refer to Table 14-5. What is the Nash equilibrium in this game?
A) Both Ming and Henri offer free pickup and delivery. B) There is no Nash equilibrium. C) Henri offers free pickup and delivery, but Ming does not. D) Ming offers free pickup and delivery, but Henri does not.
"As the price of personal computers continues to fall, demand increases." This headline is inaccurate because:
A. the statement is backwards: increased demand leads to lower prices. B. a falling price of personal computers increases the quantity demanded, not demand. C. a change in the price of personal computers shifts the demand curve. D. a change in the price of personal computers shifts the supply curve.
When a firm increases output and accepts a lower price to keep new firms from entering, it is engaging in:
A. limit pricing. B. cartel behavior. C. collusion. D. price fixing.