In 2010, Social Security pay-ins exceeded payouts in the U.S., for the first time in history
Indicate whether the statement is true or false
false
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If the GDP price index is rising over a period of time, then the real GDP in years ________.
A. after the base year will be higher than the nominal GDP B. after the base year will be rising faster than the nominal GDP C. prior to the base year will be less than the nominal GDP D. prior to the base year will be larger than the nominal GDP
Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the product would be ________, and her consumer surplus would be ________
A) $836.92; $13.08 B) $831.11; $18.89 C) $765.5; $25 D) $750; $28.5
In the short run, a perfectly competitive firm will make an economic profit as long as
A) it maximizes its profit. B) P > AVC. C) P > AFC. D) P > ATC.
Larry's Lizards and Ronaldo's Reptiles are competing pet store franchises. Both are considering opening a store in the small town of Turtleville. If Ronaldo's opens a profitable store in Turtleville and Larry's management determines that
it is not profitable to also open a store, then: A. this is a simultaneous game. B. a Nash equilibrium is not possible in this game. C. Ronaldo's had a first-mover advantage in this game. D. this is a zero-sum game.