What would be the Nash equilibrium of this simultaneous game?
a. Hit, Tell
b. Not hit, Tell
c. Hit, Not tell
d. Both B&C
d
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Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2008 and 2011.
A) 23.1%
B) 23.8%
C) 30%
D) 42.9%
According to the new growth theory, competition
A) reduces profit. B) increases profit. C) has no impact on real profit, only nominal profit. D) is only theoretical because all firms are growing at some rate.
All of the following are reasons why the wages of workers and the prices of inputs rise more slowly than the prices of final goods and services except
A) contracts make prices and wages sticky. B) unions are successful in pushing up wages. C) menu costs make some prices sticky. D) firms are often slow to adjust wages.
A drought in the Midwest will raise the price of wheat because of a
A) leftward shift in the supply curve. B) rightward shift in the supply curve. C) leftward shift in the demand curve. D) rightward shift in the demand curve.