Usury laws are associated with
A. rent.
B. interest.
C. wages.
D. profits.
B. interest.
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You are at a sports memorabilia convention and you are the last of 100 people chosen to have your picture taken with either Joe Montana or Nolan Ryan
Your payoff depends on how quickly you can have your picture taken, as you have many other things you want to see at the convention. You have no preference with whom you have your picture taken, and since you were the last chosen you will be the last person in line to get your picture taken with the sports legend you select. Identify all the Nash equilibria in this game and explain your reasoning.
When continued for several years, rapid growth in the money supply relative to the growth of real output will likely lead to an extended period of
a. low unemployment. b. high inflation. c. low nominal interest rates. d. high rates of real economic growth.
Say an individual demand curve was given by P = 50 - 5Q. When the price is $25, consumer surplus is around
A. $125. B. $100. C. $63. D. $188.
Refer to the diagram, which shows demand and supply conditions in the competitive market for product X. A shift in the demand curve from D 0 to D 1 might be caused by a(n):
A. decrease in income if X is an inferior good.
B. increase in the price of complementary good Y.
C. increase in money incomes if X is a normal good.
D. increase in the price of substitute product Y.