Which of the following formulas accurately reflects this graph?
a. P* ($8) ? ATC ($7) ? q* (100) = $100
b. P* ($8) + ATC ($7) ? q* (100) = $1,500
c. P* ($8) ? ATC ($7) ÷ q* (100) = $.01
d. P* ($8) + ATC ($7) ÷ q* (100) = $.15
a. P* ($8) ? ATC ($7) ? q* (100) = $100
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If households experienced greater uncertainty about their economic future, which of the following would occur in the market for loanable funds?
a. Both the supply and demand for funds would increase, lowering the interest rate and raising investment spending. b. The supply of funds would decrease, raising the interest rate and lowering investment spending. c. The supply of funds would decrease, lowering both the interest rate and investment spending. d. The supply of funds would increase, lowering both the interest rate and investment spending. e. The supply of funds would increase, lowering the interest rate and raising investment spending.
According to classical economists, excessive unemployment does not persist in the economy because
A. the labor demand does not change in the economy. B. the labor supply does not change in the economy. C. interest rates always change to insure equilibrium in the money market. D. wages will always adjust to ensure equilibrium in the labor market.
Answer the following statements true (T) or false (F)
1. When an excise tax or sales tax is imposed on a product, the sellers are always able to shift the burden of the tax on to the buyers. 2. The overall tax structure of the United States is proportional or slightly regressive. 3. The state and local tax structure is largely progressive. 4. In the U.S., the progressive income-tax system substantial redistributes income. 5. In the U.S., the taxes mostly come from the rich and government spending mostly goes to programs that benefit the rich.
In a duopoly game we observe the following payouts: if the two firms collude they will each earn $50,000. If one firm cheats then he earns $60,000 and the other firm earns -$10,000. If both firms cheat then they each earn zero economic profit
In this game what is the Nash equilibrium? A) Both firms cheat. B) Only one firm will cheat. C) Neither firm will cheat. D) It is impossible to say.