Refer to the table. Per capita GDP was about:
A. $105 in year 3 in Alta.
B. $303 in year 3 in Zorn.
C. $200 in year 1 in Zorn.
D. $5 in year 2 in Alta.
B. $303 in year 3 in Zorn.
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All of the following increase labor productivity except _________
A. the accumulation of skill and knowledge B. an increase in capital per hour of labor C. an increase in consumption D. the employment of a new technology
The initial price of a cup of coffee is $1, and at that price, 400 cups are demanded. If the price falls to $0.90, the quantity demanded will increase to 500
a. Calculate the (arc) price elasticity of demand for coffee. b. Based on your answer, is the demand for coffee elastic or inelastic? c. Based on your answer to a., if the price of coffee is increased by 10%, what will happen to the revenues from coffee? Carefully explain how you know.
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
A dominant strategy is one where one firm picks
A. a strategy that must be repeated. B. the same strategy as the rival. C. a strategy only after seeing the other firm's decision. D. a strategy no matter what the rival does.