Social Security payments are indexed for inflation using
a. the CPI.
b. the PPI.
c. the GDP deflator.
d. real interest rates.
a
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When playing a game, you need to
A) anticipate the moves others might be making. B) choose a strategy based on the move you anticipate from your rival. C) both A and B D) neither A nor B
The above figure shows the payoff matrix for two firms, A and B, choosing to produce a basic computer or an advanced computer. Which of the following is a Nash equilibrium?
A) Firm A produces an advanced computer, and firm B produces a basic computer. B) Both firms produce advanced computers. C) Both firms produce basic computers. D) None of the above.
The legality of which of the following actions would be determined using the rule -of-reason?
A) an agreement with a competitor firm to adjust output levels B) an agreement with a competitor firm to not sell to a particular customer C) an agreement with a competitor firm not to bid on a contract D) an exclusive dealings contract with a customer
In a perfectly competitive long-run constant-cost industry, an increase in market demand causes:
A. an increase in quantity, no change in price, and no change in profit in the long run. B. an increase in price, quantity, and profit in the long run. C. an increase in quantity, a decrease in price, and no change in profit in the long run. D. a decrease in price, a decrease in quantity, and a decrease in profit in the long run.