The two largest auto manufacturers, Toyota and GM, have experimented with hydrogen powered cars in the past, and they are currently considering the decision to introduce a hydrogen powered car into the commercial automobile market
The payoffs from the possible actions are measured in millions of dollars per year, and the possible outcomes are summarized in the following game matrix: GM produces GM does not produce Toyota produces -10, -10 50, 0 Toyota does not produce 0, 40 0, 0 If both firms enter the market simultaneously, what is the Nash equilibrium? A) Toyota produces and GM does not produce.
B) GM produces and Toyota does not produce.
C) There are two Nash equilibria - GM produces and Toyota does not produce, or Toyota produces and GM does not produce.
D) There is no Nash equilibrium in this game.
C
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Which of the following is an explanation as to why fluctuations in real GDP have become less volatile in the United States since 1950?
A) The government has become less inclined to intervene to stabilize the economy. B) Unemployment insurance and other government transfer programs have become more prevalent. C) The government and the Federal Reserve have decreased regulation and scrutiny of the financial system. D) Goods manufacturing has become a larger fraction of GDP.
In the graph below at a price of P*, the profit maximizing level of output is 
A. Q*. B. zero. C. below Q* but above zero. D. above Q*.
The optimal number of trucks is
Consider the following production function for a delivery service.
Each delivery generates $200 in gross revenue, and the tax rate is 10 percent on profits. Each truck costs $11,000.
a) 1
b) 2
c) 3
d) 4
e) 5
Technology is best defined as
A) society's stock of applied knowledge concerning the production of goods and services. B) the maximum output that can be obtained from a stock of physical capital. C) output inside the production possibilities curve. D) movement along the production possibilities curve.