Refer to Figure 4.8. If half of your friends go to the beach and half go to the park, you will receive the highest payoff by
A) going to the park.
B) going to the beach.
C) You will receive the same payoff whether you choose the beach or the park.
D) You cannot determine your highest payoff from the data in the figure.
C
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A decline in real mortgage rates will lead, other things the same, to ________
A) lower demand for housing B) tighter financing constraints C) an increase in residential investment D) a lower relative price of housing
Based on the quantity equation, if M = 8,000 . P = 3, and Y = 12,000 . then V =
a. 0.33. b. 2.0. c. 4.5. d. 0.5.
When aggregate demand shifts left along the short-run aggregate supply curve,
a. unemployment and prices rise. b. unemployment rises and prices fall. c. unemployment falls and prices rise. d. unemployment and prices fall.
How can minimum wage laws, which are supposed to help workers, have a negative impact on producers and the economy?
What will be an ideal response?