Refer to the data. The profit-maximizing output for this firm:
A. is 3.
B. is 4.
C. is 5.
D. cannot be determined from the information given.
D. cannot be determined from the information given.
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An open market sale of bonds by the central bank will cause which of the following when a liquidity trap situation exists?
A) The interest rate will increase. B) The interest rate will not change. C) Output will decrease. D) The money supply, M, will not change. E) none of the above
Which of the following is NOT a problem in the implementation of industrial policies?
A) Choosing the industry to target B) Knowing the optimum amount of resources to provide the targeted industry C) The encouragement of rent seeking by firms in other industries D) The benefits are captured only by domestic firms.
If all players in a game have a dominant strategy, then there can only be one pure strategy Nash equilibrium to the game.
Answer the following statement true (T) or false (F)
Answer the question on the basis of the following information: Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1. (Advanced
analysis) Refer to the information. If the per unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then the GDP price index in the current year is: A. 205.5. B. 255.5. C. 39.3. D. 100.