The relationship between the level of prices and total quantity of goods and services producers are willing to supply is represented by the:
A. aggregate demand curve.
B. aggregate supply curve.
C. sticky price curve.
D. GDP multiplier.
Answer: B
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What is meant by the first-mover advantage? How does commitment matter in a game with a first-mover advantage? a. Some games have a first-mover advantage and others do not. Suppose you were playing rock-paper-scissors as an extensive form game
First you choose rock, or paper, or scissors and then your opponent makes a choice. Is there a first-mover advantage in this game? b. Two firms are thinking of entering a new market. If only one enters, it will make high profits. If two firms enter, then both will suffer losses. Suppose that the game is played sequentially, with Firm 1 deciding first. Does this game have a first-mover advantage?
Under the gold standard, a country experiencing a fall in its gold reserves was supposed to:
(a) Expand loans (b) Buy securities (c) Lower discount rates (d) Cut loans
Refer to the above figure. If the government imposes a price ceiling of $60
A) the quantity traded will be 150, and the price will be $40. B) the quantity traded will be 100, and the price will be $60. C) the quantity traded will be 200, and the price will be $60. D) the quantity traded will be 150, and the price will be $60.
If the interest rate in the Mexican economy increases, then the most likely outcome would be that, in Mexico, the
a. economy will move to a new point along its existing consumption curve b. consumption curve will shift upward c. consumption curve will shift downward d. investment curve will shift upward e. economy will move to a new point along its existing investment curve