In a game, which strategic choice is called a dominant strategy?
The dominant strategy of each player in a game is his/her best choice irrespective of what his/her co-player has chosen.
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Which of the following is an example of the effect of a price floor?
A. Scalping of Super Bowl tickets B. Surplus cheese C. The New York city housing shortage D. Black markets E. Milk shortages
Output expanded and was distributed toward wartime uses and away from private uses only during World War I (1914–18), not World War II (1941–45). The high unemployment of the 1940s made this possible
Indicate whether the statement is true or false
Suppose a firm is hiring 20 workers at a wage rate of $60. The average product of labor is 30, the last worker added 12 units of output, and total fixed cost is $3,600. What is marginal cost?
A. $240 B. $.20 C. $5 D. $720 E. none of the above
Which of the following is used to determine the statistical significance of a regression coefficient?
A. t-statistic B. Adjusted R-square C. R-square D. F-statistic