Economists often refer to games with more than three players as
A) complex games.
B) n-player games.
C) games of infinity.
D) global games.
B
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Suppose the market for nursing services in a local community is so dominated by a single community hospital that for all practical purposes it is considered a monopsony. Using the diagram below, answer the question. If the market were perfectly competitive instead of dominated by a monopsonist, what would the equilibrium wage and level of employment be?
a. W2 and E0 b. W0 and E2 c. W1 and E1 d. W0 and E1 e. W0 and E0
Whenever external costs exist:
A.) Social demand is less than market demand. B.) Market demand is less than social demand. C.) Market demand and social demand are equal. D.) Market demand understates the social benefits.
The money demand curve will shift to the left if:
A. the nominal interest rate increases. B. the nominal interest rate decreases. C. the price level decreases. D. the price level increases.
The amount of money banks can loan out is determined by the discount rate.
Answer the following statement true (T) or false (F)