We can tell how much physical capital has been added to the economy by:
A. taking into account both new investment and depreciation of capital.
B. adding up the value of all tools, equipment, and structures that have ever been built.
C. counting the number of persons of working age.
D. counting the number of persons of working age who are employed.
A. taking into account both new investment and depreciation of capital.
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Broadly speaking, Social Security redistributes incomes from high-to low-income individuals, from men to women, and from young to old.
A. True B. False C. Uncertain
In a mixed strategy equilibrium:
A. a player is indifferent between playing a dominated strategy and playing a non-dominated one. B. players choose mixed strategies, but the mixed strategy chosen by each is not necessarily a best response to the mixed strategies chosen by the others. C. players choose mixed strategies and the mixed strategy chosen by each is a best response to the mixed strategies chosen by the others. D. a player is indifferent between playing a dominated strategy and playing a non-dominated one; and players choose mixed strategies and the mixed strategy chosen by each is a best response to the mixed strategies chosen by the others.
Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes
What will be an ideal response?
Ginger bought a phone that came with a $10 rebate. Ginger should fill out and mail in the rebate form if:
A. the opportunity cost of the time and trouble of sending in the rebate form is less than $10. B. Ginger's surplus from purchasing the phone was less than $10. C. she would have bought the phone without the rebate, and so sending in the rebate form involves no opportunity cost. D. the opportunity cost of the time and trouble of sending in the rebate form is more than $10.