Refer to Table 17-20. If Maddie chooses not to clean, then Nadia will
a. clean and Maddie's payoff will be 50.
b. clean and Maddie's payoff will be 30.
c. not clean and Maddie's payoff will be 7.
d. not clean and Maddie's payoff will be 10.
Answer: d. not clean and Maddie's payoff will be 10.
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The unemployment rate is measured as
A) the number of people that want to work but cannot find jobs out of the entire population. B) the percentage of people in the labor force who are unemployed. C) an indicator to determine long-term economic growth. D) an indicator for potential inflation.
According to the rational expectations theory the rate of inflation largely depends on
A. business expectations of interest rate levels. B. business expectations about international trade. C. what people expect to happen to prices. D. the unemployment rate.
Recall the Application about running a software programming business to answer the following question(s).The current income you would sacrifice to start your own software development business is part of the:
A. opportunity cost of invested funds. B. opportunity cost of starting a business. C. cost of doing business. D. present value of your initial investment.
The law of demand can be stated as all else equal:
A. quantity demanded rises as price rises. B. quantity demanded rises as income rises. C. quantity demanded rises as price falls. D. demand rises as price falls.