On a diagram of a production possibilities frontier, economic growth is represented by the slope of the production possibilities frontier
Indicate whether the statement is true or false
FALSE
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The rate-of-return regulated public utility can have incentive to use more capital than is efficient relative to other inputs
Indicate whether the statement is true or false
The difference between a Nash equilibrium and a subgame-perfect equilibrium is:
a. the former requires rational play both on and off the equilibrium path but the latter requires rational play only on the equilibrium path. b. the former requires rational play only on the equilibrium path but the latter requires rational play both on and off the equilibrium path. c. Nash equilibria are a subset of the subgame-perfect equilibria. d. nothing; they are synonyms.
A & H Deliveries earned about $500,000 less than usual this year because of a downturn in the economy. The company also had to pay $200,000 less in taxes this year because their income and payroll were smaller. The decrease in taxes A & H had to pay during the downturn is an example of _____.
a. the crowding-out effect b. automatic stabilization c. discretionary policy d. a recognition lag
Which of the following statements is true?
A) Opportunity cost = explicit cost - implicit cost. B) Total cost = fixed cost + implicit cost. C) Total cost = fixed cost + variable cost. D) Variable cost = wages + salaries + benefits.