An AIDS epidemic hurts an economy by
a. requiring additional expenditures on health care
b. reducing the working-age population
c. increasing the child mortality rate
d. reducing the growth of output
e. all of the above
E
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A strategy in which a player uses probabilities to decide which strategy to use is called a
A) pure strategy. B) mixed strategy. C) Pareto strategy. D) coin flip strategy.
If prices and income in a two-good society double, what will happen to the budget line?
A) The intercepts of the budget line will increase. B) The intercepts of the budget line will decrease. C) The slope of the budget line may either increase or decrease. D) Insufficient information is given to determine what effect the change will have on the budget line but we know society is worse-off. E) There will be no effect on the budget line.
Any firm's total revenue equals
A) MR × q. B) P × q. C) P/q. D) MR/q.
In the Keynesian view of macroeconomic equilibrium during a depression, aggregate demand and aggregate supply intersect
A. in the horizontal segment of the aggregate supply curve. B. in the horizontal segment of the aggregate demand curve. C. in an upward-sloping segment of the aggregate supply curve. D. in the vertical segment of the aggregate supply curve.