A man-made resource such as a building or a machine is an example of which resource?
A) entrepreneurial ability
B) labor
C) physical capital
D) human capital
C
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A "Credible Threat"
A) is also called a "tit-for-tat" strategy. B) always set a low price. C) minimizes the return of your opponent. D) is a strategy selection that is in your best interest. E) provides the best return for both players.
If two firms that split a market equally decide to merge and form a monopoly, by how much does the Herfindahl index rise as a result of this merger?
a. 50 b. 250 c. 2500 d. 5000
A price index:
A. summarizes the changes in the cost of living for only rural consumers. B. measures how much the cost of a market basket has risen or fallen relative to the cost in a base time period. C. is generally only used with consumer goods and services D. allows us to see clearly the changes in the cost of a market basket daily.
Short-run contractions and expansions in economic activity are called
A. the business cycle. B. recessions. C. deficits. D. expansions.