Joseph Schumpeter is most closely associated with the
A. theory of innovations.
B. psychological theory.
C. inventory cycle theory.
D. monetary theory.
A. theory of innovations.
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Price supports:
A. decrease pollution because participants must practice organic farming. B. neither increase nor decrease environmental pollution. C. increase pollution because supports encourage the cultivation of marginal land and the use of more pesticides and fertilizers. D. discourage rent-seeking activity.
The DD schedule shows
A) interest rate and output pairs for which aggregate demand equals aggregate output. B) exchange rate and output pairs for which aggregate demand equals aggregate output. C) exchange rate and output pairs for which aggregate supply equals aggregate output. D) interest rate and output pairs for which aggregate supply equals aggregate output. E) exchange rate and output pairs for which aggregate demand is greater than aggregate output.
The following matrix shows the payoffs for an advertising game between Coke and Pepsi. The firms can choose to advertise or to not advertise. Numbers in the matrix represent profits; the first number in each cell is the payoff to Coke
(Numbers in millions.) Coke (rows) / Pepsi (columns) Advertise Don't Advertise Advertise (10, 10 ) (500, -50 ) Don't Advertise (-50, 500 ) (100, 100 ) a. Explain why this would be described as a Prisoner's Dilemma game. b. Explain the probable outcome of this game.
The Haig-Simons definition of income includes
A. employer pension contributions and insurance purchases. B. transfer payments. C. income in-kind. D. all of these answer options are correct.