Which of the following would not change the demand for automobiles?
A) a change in the price of gasoline
B) a change in the cost of steel
C) a change in the price of motorcycles
D) a change in tastes
Ans: B) a change in the cost of steel
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Who can determine the true cost of water?
A) Nobody B) Anybody who puts their mind to it C) Only the most competent hydrologist D) A good accountant
A game in which each player adopts its dominant strategy
A) will not lead to an equilibrium. B) can never result in a Nash equilibrium. C) could result in a Nash equilibrium. D) must be a cooperative game.
A manager believes there is a 5 percent chance their firm will have to pay $1,000,000 and a 95 percent chance they will be found innocent and pay nothing except the legal fees of $100,000. If the manager chooses to not enter into the litigation and to settle for $150,000 (pay the plaintiff), which of the following is true?
A) The manager is a risk lover. B) The manager is risk neutral. C) The manager is risk intolerant. D) The manager is risk averse.
Advocates of an active approach think that only when unemployment is high, the natural adjustments of wages and prices can be effective
a. True b. False Indicate whether the statement is true or false