Suppose you borrow $500 for a year and the lender discounts $75 of interest at the time the loan is made (giving the borrower only $425). The interest rate on this loan is about:
A. 12.5 percent.
B. 14.5 percent.
C. 17.6 percent.
D. 10 percent.
Answer: C
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For a monopsony, the labor supply curve
A) lies above the MCL curve. B) is the same as the MCL curve. C) lies below the MCL curve. D) is the same as the labor demand curve.
Is it possible for sellers to benefit more than consumers from a subsidy to buyers?
A. Producers can never benefit more than buyers from a subsidy to buyers. B. Yes, if the supply curve is relatively more elastic than the demand curve. C. Yes, if the sellers need it more. D. Yes, if the supply curve is relatively less elastic than the demand curve.
A mixed strategy may
A) be part of a Nash equilibrium. B) be a set of probabilities of selecting each possible action. C) lead identical firms to choose different actions. D) All of the above.
What is dopamine? With respect to consumer choice, when does dopamine flow increase and when does it decrease?
What will be an ideal response?