Refer to the scenario above. What is the expected value of the game?
A) $20
B) $50
C) $100
D) $300
B
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Suppose that C = Ca + 0.6y and a shock decreases Ca by $50 billion. Assuming there is no government involvement, by how much will equilibrium GDP decrease?
What will be an ideal response?
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm total revenue is
A) $100. B) $70. C) $30. D) $130.
The inflation rate is:
A. the percentage change in the overall price level. B. the central concept in microeconomics. C. a measure of the rate of increase in the cost of imported goods. D. is not something that can be accurately measured with the CPI.
Public goods: a. Can be both produced and financed by the private sector
b. Can be both produced but not easily financed by the private sector c. Cannot be produced but can be financed by the private sector. d. Cannot be produced or easily financed by the private sector.