If a monopolist's marginal revenue is less than zero over a range of output, then price elasticity of demand must be:
a. greater than one.
b. equal to one
c. less than one.
d. equal to zero.
c
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A tariff ranging from 28 percent to 113 percent on Chinese frozen shrimp is an example of
A. a policy protecting American consumers from foreign producers. B. a policy protecting American fisheries from overfishing. C. a policy protecting domestic producers from foreign producers. D. a policy using regulations and taxes to protect American consumers.
A real estate salesperson sells a house in 2015 that was built in 2005 . How does this transaction get counted in the GDP statistics?
a. The price of the house and the real estate salesperson's commission are both included in 2015's GDP. b. Neither the price of the house or the commission is included in 2015's GDP. c. The real estate salesperson's commission but not the price of the house is included in 2015's GDP. d. The price of the house would be included in both 2005's GDP and the GDP for 2015.
Credit risks are based mainly on:
a. The maturity of an issue. b. The amount of national credit outstanding relative to GDP. c. The solvency, performance, and liquidity of borrowers. d. The degree to which market variables, like interest rates and exchange rates, change. e. None of the above.
Backward induction will not lead to a determinate sequence of actions for:
A. simultaneous move games. B. sequential games. C. mixed strategy games. D. games with dominant strategies.