At the beginning of the Vietnam War, increased military spending in the United States decreased unemployment
Indicate whether the statement is true or false
TRUE
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Suppose a new Dunkin' Donuts shop has opened in town. Its main competitor, Doughnut Delite, will likely
a. begin to produce more doughnuts. b. experience higher marginal costs. c. reduce its prices and production. d. make no changes in its pricing and production decisions.
Which of the following is motivated by an equity concern?
A) The United States protects intellectual property rights, allowing inventors to prevent others from using their inventions without payment. B) Some U.S. colleges have cut back on merit scholarships since these programs siphon money from need-based programs, thus harming lower-income students with greater financial need. C) Following the removal of subsidies in urban water use, household demand for water decreased quite significantly in Bogor, Indonesia. D) In November 2003, the Federal Communications Commission implemented the "local number portability" rule which gives cell phone customers the option of keeping their number when they switch carriers within the same geographic region.
Normative economic statements
a. can’t be verified. b. deal with “what is”. c. consider the effect one variable has on another variable . d. None of these.
Refer to the payoff matrix below. Which of the following is the Nash Equilibrium?
A) Set Low Price/Set Low Price
B) Set High Price/Set Low Price
C) Set High Price/Set High Price
D) Set Low Price/Set High Price