A credit-rationed household is more likely to immediately ________ of a one-time tax rebate than is a household that is not credit rationed
A) spend a larger portion
B) spend a smaller portion
C) save a larger portion
D) spend none
A
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Refer to Game Matrix III. Which of the following is a property of this game?
Game Matrix III
The following questions refer to the game matrix below. Each firm has a choice of advertising, Ads, or not advertising, No ad. The profits each gets depend upon which it chooses.
a. Both firms have dominant strategies.
b. There is no pure strategy Nash equilibrium.
c. There is a Nash equilibrium and it is Pareto optimal.
d. There is a Nash equilibrium and it is not Pareto optimal.
Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Refer to the accompanying table. Corey's opportunity cost of delivering of a pizza is making: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. 6 pizzas. B. 1/2 of a pizza. C. 2 pizzas. D. 12 pizzas.
Which economic principle states that when the price of a good is reduced, the quantity of that good demanded will increase?
a. the law of consumer choice b. the law of consumer equilibrium c. the law of demand d. the law of diminishing marginal utility