What is the Nash equilibrium of this game?
a. Both of them clean the apartment
b. John cleans, Joe doesn't
c. Joe cleans, John doesn't
d. Neither of them clean the apartment
d
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Labor productivity depends on the
a. the effectiveness of government b. the availability of technology c. the proportion of the labor force that is unionized d. the size of the economy e. All of the answers are correct
Market equilibrium occurs at that price for which
a. quantity supplied equals quantity demanded b. cost equals the wages to labor c. the surplus quantity drives increased demand d. quantity supplied exceeds quantity demanded e. quantity supplied is less than quantity demanded
A person may be described as belonging to the set of counterfeit unemployment if he or she a. quits working because of a variety of excuses such as "unbearable office politics" or"difficulty to work in that environment."
b. becomes discouraged after many attempts to find work c. is actually working but that work is unreported so that the person can getunemployment insurance d. substitutes a family member to work for him or her, typically a woman substitutingfor a stay-at-home man e. is working but at a job demanding considerably less than the person's talents
Tickets to the Indiana-Purdue basketball game are usually sold out in advance of game day. This suggests:
A. the price of the tickets must be very high or else people would not consider them valuable. B. the price is set below the equilibrium level. C. the Indiana basketball stadium is relatively small. D. everyone who attends the game will enjoy it.