Who won a Nobel Prize in economics for his work in the development of game theory?
A) John von Neuman
B) Oskar Morgenstern
C) John Nash
D) Howard Schultz
Answer: C
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Refer to the scenario above. Alex should place a bid of ________
A) $187.50 B) $200.50 C) $225 D) $250
The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. A slice of pizza costs $4 and a can of Pepsi $2. Suppose Priscilla has $12 to spend
If the price of pizza decreases, Priscilla's preferences (her marginal utility schedule) for pizza A) will increase. B) will decrease. C) will not change. D) may increase or decrease depending on what happens to the price of Pepsi.
The Banking Acts of 1933 and 1935
A) established the Federal Reserve System. B) increased central control of the Federal Reserve System. C) eliminated the authority of the Board of Governors to set reserve requirements. D) made the Secretary of the Treasury a member of the Board of Governors.
If the perfectly competitive wiffle ball industry is bearing economic losses, we would expect that:
a. output will increase, the price of wiffle balls will rise, and the economic losses would tend to disappear. b. output will decrease, the price of wiffle balls will fall, and the economic losses would tend to increase. c. output will decrease, the price of wiffle balls will rise, and the economic losses would tend to disappear. d. output will increase, the price of wiffle balls will fall, and the economic losses would tend to disappear.