A perfectly competitive firm's ________ point is the lowest point on its AVC curve.
A. break-even
B. loss-maximizing
C. shut down
D. profit-maximizing
Answer: C
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The table below shows how the payoffs to two political candidates depend on whether the candidates run a positive or negative campaign. The payoffs are given in terms of the percentage change in the number of votes received. 
Running a negative campaign is ________ for the ________ candidate.
A. a dominant strategy; Democratic B. neither a dominant nor dominated strategy; Republican C. a dominated strategy; Democratic D. a dominated strategy; Republican
In 2009 in the United States, net domestic product at factor cost was $11,091 billion. Additionally, rent was $2,000 billion, profits were $1,000 billion, and interest was $358 billion. Hence wages were
A) $7,733 billion. B) $9,091 billion. C) $10,091 billion. D) $8,091 billion. E) $12,091 billion.
The fact that every dollar that the government spends or transfers must ultimately be provided by the taxes and user charges it collects plus government borrowing is known as the
A) government balance sheet constraint. B) government budget constraint. C) tax collection constraint D) user charge constraint.
Three possibilities are equally likely and have payoffs of $3, $6, and $9 . The expected value is:
a. $4 b. $5 c. $6 d. $7