Strategies and incentives:
A. work the same whether games are played once or repeated.
B. often work quite differently when games are repeated.
C. do not change when the game is repeated.
D. None of these statements is true.
B. often work quite differently when games are repeated.
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To determine total cost, the business owner must know
A. input quantity and output price. B. output quantity and output price. C. output quantity and input price. D. input quantity and input price.
A surplus of labor is eliminated by ________ in the real wage rate and a shortage of labor is eliminated by ________ in the real wage rate
A) an increase; a decrease B) a decrease; an increase C) an increase; an increase D) a decrease; a decrease E) None of the above answers is correct because shortages and surpluses are eliminated by changes in the demand for labor and the supply of labor, not the wage rate.
What does it mean to say that a perfectly competitive firm is a price taker? Can't a firm set any price it chooses?
What will be an ideal response?
Answer the following questions true (T) or false (F)
1. With the Troubled Asset Relief Program (TARP), the Treasury provided funds to banks in exchange for stock. 2. In March 2008, the Fed announced that primary dealers would be eligible to receive discount loans. 3. Despite saving Lehman Brothers from failing, the Fed and the Treasury decided to allow Bear Stearns to go bankrupt, which it did in September, 2008.