Refer to Table 20-14. The real average hourly earnings for 1965 in 2010 dollars equal
A) $3.87. B) $5.80. C) $12.10. D) $18.14.
D
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In the Prisoners' Dilemma game,
a. the Nash equilibrium is the only outcome that is not Pareto optimal. b. neither player has a dominant strategy. c. the Stackelberg equilibrium will be Pareto optimal if the game is played sequentially. d. all possible outcomes are Nash equilibria.
The inflation rate = ________
A) nominal GDP - real GDP B) growth rate in real GDP - growth rate in nominal GDP C) growth rate in real GDP + growth rate in nominal GDP D) nominal GDP ÷ real GDP E) none of the above
The population theory of Thomas Malthus
(a) would have predicted the changes in per output in this country in the 19th century and up to 1910. (b) would lead you to expect a powerful surge in physical output as the immigration poured in. (c) would not have predicted the positive trend increase in per capita output and income in 1860–1910. (d) does not apply to any of the above.
Suppose a publisher faces the following costs of producing 10,000 newspapers each month: $5,500 cost of labor; $2,200 monthly mortgage payment; $250 cost of electricity to run the printing presses; $800 for ink and paper; and $200 in city property taxes (based on the value of the building and land). Its total variable costs are:
a. $8,950. b. $8,750. c. $6,550. d. $6,300. e. $5,500.