In the short run, fiscal policy has its primary affect on aggregate demand but in the long run fiscal policy can influence saving, investment and economic growth
a. True
b. False
Indicate whether the statement is true or false
True
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In a Nash equilibrium,
A) each player has a dominant strategy. B) no players have a dominant strategy. C) at least one player has a dominant strategy. D) players may or may not have dominant strategies. E) the player with the dominant strategy will win.
A decrease in supply means that
a. demand will increase by the same amount b. the quantity supplied increases c. the quantity supplied decreases d. at every price level, the quantity supplied decreases e. the supply curve shifts to the right
Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per DayNumber of MinersMother Lode10025Scraping Bottom3010Middle Drift7515 Suppose Earth Movers & Shakers needs to fill an order for 60 tons of ore in a single day. If it has no other orders for that day, it should:
A. take it all from Middle Drift. B. take 30 tons from Scraping Bottom and 30 tons from Middle Drift. C. take it all from Mother Lode. D. take 20 tons from each of the three mines.
How much would the interest rate be if there was no usury law?
