_____ established the first American colonies in the early 1500s
a. England
b. The Low Countries
c. France
d. Spain
d. Spain
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Refer to Figure 8.2. At P = $80, the profit-maximizing output in the short run is
A) 22. B) 34. C) 39. D) 50. E) 64.
Which of the following is true about games in which people have different information?
A. The behavior of the participants in the game reveals little to no information. B. Participants in these games can sometimes have an incentive to mislead others through their behavior. C. Participants in these games always act in a way contrary to his immediate interests. D. These games never have a Nash equilibrium.
When no one owns a particular resource
A) property rights are clearly defined. B) individuals have legal recourse for any damages caused to their resource. C) no one has any incentive to consider externality spillovers associated with that resource. D) positive externalities will arise.
The following national income statistics are in billions of dollars
Refer to the above data. Personal income is:
A.
$483 billion
B.
$376 billion
C.
$372 billion
D.
$317 billion