If the income multiplier is 4 and the equilibrium national income level is $5,000 . then a $20 increase in aggregate demand at every level of national income will cause
a. the aggregate demand curve to shift to the right and national income to increase by $20
b. the aggregate demand curve to shift to the left and national income to increase by $20
c. the aggregate demand curve to shift to the right and national income to increase by $80
d. the aggregate demand curve to shift to the left and national income to increase by $80
e. an $80 movement along the existing aggregate demand curve
C
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The wage rate is the opportunity cost of
A) leisure. B) consumption. C) working overtime. D) working.
Refer to the above figure. Point B
A. equals government expenditures. B. equals autonomous consumption plus planned investment plus autonomous government spending plus autonomous net exports. C. equals autonomous consumption. D. has no special significance.
Answer the following statement(s) true (T) or false (F)
1. When both players have dominant strategies, there is only one Nash equilibrium. 2. The Battle of the Sexes game has two Nash equilibria, neither of which is Pareto optimal. 3. All outcomes in the Copycat Game are Nash equilibria. 4. A solution concept is any way of analyzing a game which leads to the discovery of a Nash equilibrium which solves the game. 5. The concept of Nash Equilibrium is an important solution concept because it helps make predictions.
Who benefits primarily from rent controls?
A) construction workers B) poor people looking for low-income housing C) all who want to rent D) only renters who are able to get units at below-market rates