In 1990, which two countries saw inflation rates over 2,000%?
a. Brazil and Argentina
b. Cuba and China
c. the United States and Great Britain
d. Argentina and Chile
a. Brazil and Argentina
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Most economists - both liberals and conservatives - believe a balanced budget amendment is an ill-conceived idea.
A. True B. False C. Uncertain
Which of these economic variables is countercyclical?
A) investment spending B) unemployment C) demand for foreign products D) all of the above E) none of the above
Suppose the quantity of nursing services demanded exceeds the quantity of nursing services supplied. The nursing wage rate will:
A) decrease. B) increase. C) not change. D) none of the above
Two firms engage in Bertrand competition in differentiated products. After doing all the appropriate calculations, you find the best-response functions are PB = 2.5 + .15PC and PC = 1.5 + .075PB. Without doing any further calculations, can you determine the relationship between their Nash equilibrium prices?
a. Yes, PB > PC b. Yes, PC > PB c. Yes, PB = PC d. No; it cannot be determined.