If an economy's population grows at 3 percent and income grows at 3 percent, then
a. per capita income is declining
b. the economy's standard of living is increasing
c. per capita income is negative
d. per capita income is constant
e. human capital per capita is constant
D
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Refer to the scenario above. If the players have to pay a fairness penalty of $6, ________
A) the game will not have a Nash equilibrium B) the game will have multiple Nash equilibria C) the game will have multiple dominant strategy equilibria D) the game will have a unique Nash equilibrium
Which of the following statements about supply curves is CORRECT? I. A supply curve also can be a marginal cost curve. II. A supply curve tells the quantity of other goods and services that sellers must give up to produce another unit of the good
A) I only B) II only C) both I and II D) neither I nor II
As long as the practice does not restrict competition, he European Union competition law considers all of the following permissible except which one?
A) resale price maintenance B) exclusive dealing contracts C) price discrimination D) tying contracts
Which one of the following could account for an increase in the market clearing price of iPads?
A) a decrease in demand for iPads B) an increase in supply of iPads C) an increase in supply along with a decrease in demand D) an increase in demand along with a decrease in supply