After the imposition of the quota, the quantity demanded of TVs is ________.
A. 40,000
B. 100,000
C. 20,000
D. 80,000
Answer: D
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Which of the following accurately describes the Fed's inflation target?
A) It is implicit rather than explicit. B) It seeks to maintain an average inflation rate of 2% per year. C) It seeks to keep inflation at 2% all the time. D) Its goal is to achieve zero inflation.
Not all games with two or more Nash equilibria can be solved with pre-play communication because
A) cheap talk may be illegal under anti-trust laws. B) if there's an incentive for one or more players to lie, then cheap talk lacks credibility. C) pareto criterion might not be defined. D) Both A and B
Demand-pull inflation occurs during a period of time in which total spending is increasing less than total output (GDP) is increasing
a. True b. False Indicate whether the statement is true or false
If the price elasticity of supply is 1.3, supply is:
A. unaffected by price changes. B. inelastic. C. unit elastic. D. elastic.