Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2 ) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2. At the Nash-Cournot equilibrium, the market price, P, is
A) 30.
B) 45.
C) 60.
D) 90.
C
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An increase in the value of the U.S. dollar relative to the Japanese yen will
a. increase aggregate demand in the United States. b. decrease aggregate supply in the United States. c. increase aggregate demand in Japan. d. increase aggregate supply in Japan.
Which one of the following would count as investment in the national income accounts?
a. buying a U.S. government bond b. buying 100 shares of Wal-Mart stock c. buying an existing house d. a freight-hauling firm buying a new domestically produced truck
There is evidence that __________ were the main lobbyists behind passage of the Factory Acts which put restrictions on women and children working in early 19th century England
A) male workers B) female workers C) child-care advocates D) factory owners
Which of the following statements is true?
A. OLS estimates in censored regression models are consistent estimators of the population coefficients. B. In a truncated regression model, the samples are not included randomly from an underlying population but are based on a given rule. C. In a censored regression model, units in the sample are taken from a particular subset of the population. D. Maximum likelihood estimators are consistent in truncated regression models even if there is nonnormality or heteroskedasticity in the error terms.