Within a game theory model, if a change in decision-making raises corporation A's profits by $200 and lowers corporation B's profits by $250, the game is a
A. positive-sum game.
B. negative-sum game.
C. cooperative game.
D. zero-sum game.
Answer: B
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Assume that the supply curve is horizontal because marginal cost is constant at $10. John, Robert, and Jimmy each value one compact disc at $20 but only Jimmy and John value a second compact disc (Jimmy at $5 and John at $15). The maximum possible value achieved in this market is
a. $35. b. $60. c. $75. d. $80.
Use the figure below to answer the following question.
If actual production and consumption occur at Q1
A. there is deadweight loss of b + d. B. there is deadweight loss of e + d. C. economic surplus is maximized. D. consumer surplus is maximized.
Briefly explain how a change in the personal income tax rate affects aggregate demand
What will be an ideal response?
If the expected inflation rate was 2.5%, the expected real interest rate was 4.0%, and the real interest rate turned out to be 5.1%, then the nominal interest rate equals
A) 1.4%. B) 1.5%. C) 2.6%. D) 6.5%.