The focal point of the Bretton Woods system was the:
a. Great Britain pound.
b. institution of special drawing rights.
c. U.S. dollar.
d. gold reserve.
e. management of commodity money.
c
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The downfall of the fooling model is that it assumes an implausibly ________ level of perception about price on the part of ________
A) high, firms B) high, workers C) low, firms D) low, workers
Suppose Q = KaLb, if a + b < 1 the isoquants will be
a. upward sloping. b. progressively closer together at higher quantities. c. progressively further apart at higher quantities. d. equally spaced.
What is the Nash equilibrium of this one-shot game?
a. Firm A will charge a lower price and firm B will charge a lower price b. Firm A will charge a higher price and firm B will charge a lower price c. Firm A will charge a lower price and firm B will charge a higher price d. Firm A will charge a higher price and firm B will charge a higher price
A local street festival that previously sold bracelets in exchange for unlimited alcohol consumption is now concerned about the overconsumption of alcohol. If they switch to selling tickets per drink, will overall consumption at next year's festival decrease?
A. No, because the marginal cost per extra beer will increase for consumers. B. No, because the marginal cost per extra beer will decrease for consumers. C. Yes, because the marginal cost per extra beer will increase for consumers. D. Yes, because the marginal benefit per extra beer will increase for consumers.