If total output is $1,000 and total labor-hours are 20, labor productivity is
A. $20.
B. $50.
C. $2,000.
D. $20,000.
Answer: B
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Which of the following constitutes a mixed strategy Nash equilibrium of the Odds and Evens game?
A) Play Even and Odd with 50% probability each. B) Play Even with 75% probability and Odd with 25% probability. C) Always play Even. D) This game has no mixed strategy Nash equilibrium.
The Drinking Water State Revolving Fund (DWSRF)
a. was established under the Safe Drinking Water Act of 1974 b. received no additional funding from the American Recovery and Reinvestment Act c. initially authorized $1 billion per year for infrastructure improvements d. all of the above
A simultaneous rise in aggregate demand and fall in short-run aggregate supply will definitely
A) raise the price level, but there is not enough information to know how Real GDP will change. B) lower Real GDP, but there is not enough information to know how the price level will change. C) raise the price level and Real GDP. D) raise Real GDP, but there is not enough information to know how the price level will change. E) raise the price level and lower Real GDP.
The effect of an increase in aggregate supply is a(n):
A. increase in the general level of prices and a decrease in real output. B. increase in the general level of prices and an increase in real output. C. decrease in the general level of prices and a decrease in real output. D. decrease in the general level of prices and an increase in real output.