The value of money for buying goods and services is known as
A) inflation.
B) nomination.
C) nominal income.
D) purchasing power.
D
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Two individuals are playing a trust game that has three rounds. In the first two rounds of the game, they have accumulated $1,000 as a team
In the third round, Player 1 is blindfolded and asked to decide whether he would let Player 2 guide him to a particular destination or opt out of the game. If he lets Player 2 guide him, Player 2 can either guide him to the correct destination or take him elsewhere. If he leads him to the correct destination, each of them will get half the accumulated money. On the other hand, if Player 2 can lead him astray, Player 2 will get 75% of the accumulated money and Player 1 will get 25%. If Player 1 opts out of the game, he will get 30% of the accumulated money and Player 2 will get 20%. a) What is the equilibrium outcome in this case? b) How will the equilibrium change if the players can impose a guilt penalty of 60% of the accumulated money on the defecting player?
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. How much can Always There Wireless charge as a fixed fee without losing the low-demand consumers?
A. $9.38 B. $28.13 C. $153.13 D. $1.00
In the later part of the twentieth century, the price of crude oil began to increase after decades of relatively steady prices, which of the following could explain this phenomenon?
A) Worldwide reserves have been increasing. B) Worldwide demand has been increasing. C) Global warming D) Extraction technology has been degrading.
The resource based perspective indicates that firms exhibit different performances within the same industry because
a. Some firms have better resources than others b. Some firms have organizational structures that can be duplicated c. Some firms sell goods that have a more elastic demand d. Some firms sell goods that have a perfectly elastic demand