Barter requires
a. that the exchanged goods be portable
b. that the exchanged goods be durable
c. a double coincidence of wants
d. that the exchange medium be divisible
e. an effective middleman
C
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According to the graph shown, producing 14 units:
A. is not as profitable as producing 11 units.
B. will earn negative profits.
C. will earn more profits than producing 9 or 11 units.
D. will earn zero profit.
The chair of the Board of Governors of the Federal Reserve is
a. appointed by the U.S. president. b. elected by the twelve Federal Reserve Banks. c. elected by member banks. d. appointed by Congress.
Refer to the normal-form game of price competition shown below.Firm AFirm B??CD?A0,75,2?B5,10,8Which of the following represents the set of possible pure strategy Nash equilibria?
A. {C, D} B. {A, B} C. {A, C} D. {(A, C), (A, D), (B, C), (B, D)}
Other things equal, an increase in taxes on businesses will:
A. Increase aggregate supply and decrease aggregate demand, and cause the price level to fall B. Increase aggregate supply and increase aggregate demand, and cause real GDP to rise C. Decrease aggregate supply and decrease aggregate demand, and cause real GDP to fall D. Decrease aggregate supply and increase aggregate demand, and cause the price level to rise