In the simple circular flow model:
A. households are buyers of resources.
B. businesses are sellers of final products.
C. households are sellers of final products.
D. there are real flows of goods, services, and resources, but not money flows.
Answer: B
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M&M and Dove are both considering issuing themed holiday candy. The profits for each strategy, regular candy or holiday candy, are summarized in the payoff matrix above
The Nash Equilibrium in this game is that Dove produces ________ and M&M produces ________. A) holiday candy; regular candy B) regular candy; holiday candy C) regular candy; regular candy D) holiday candy; holiday candy
The above figures show the market for hamburger meat. Which figure(s) shows the effect of a decrease in the price of a hamburger complement such as hamburger buns?
A) Figure A B) Figure B C) Figure D D) Figures A and B
The production possibilities frontier shows the trade-offs that the producer faces but does not identify the choice the producer will make
a. True b. False Indicate whether the statement is true or false
Carol is a coal miner who just got laid off when the last coal mine in the area was shut down. She has looked everywhere for another job as a miner, but cannot find one. Given that Carol is unlikely to find another job as a miner, she would be considered:
A. real-wage unemployed. B. Carol is a discouraged worker. C. structurally unemployed. D. frictionally unemployed.