A game in which all the players are worse off at the end of the game is a
A) negative-sum game.
B) dominant strategy game.
C) positive-sum game.
D) noncooperative game.
A
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Veruca sells therapeutic bath salts on the Internet. Her annual revenue is $52,000 per year, the explicit costs of her business are $14,000, and the opportunity costs of her business are $17,000 per year
What are the implicit costs of her business? A) $14,000 B) $17,000 C) $21,000 D) $31,000
Whom does the Bureau of Labor Statistics include in the discouraged worker category?
a. those who are neither disabled, employed nor seeking employment b. labor force members who have chosen early retirement because they dislike their work or think the pay is too low c. people who tried unsuccessfully to find a job and aren't searching for a job any longer d. members of the labor force who are looking for a job but cannot find one e. anyone in the population who is not working
A profit-maximizing firm will only produce a positive amount of output if:
A. its total revenue is greater than or equal to its variable cost. B. its total revenue equals its total cost. C. its total revenue is greater than its fixed cost. D. its total revenue is greater than its total cost.
Answer the following statement(s) true (T) or false (F)
1.Economists who believe that, in the short run, discretionary monetary and fiscal policy can stimulate a recessionary economy with aggregate demand management are known as activists. 2.Expansionary fiscal policy is usually effective at correcting for negative supply shocks. 3.Between 1999 and 2004, inflation was low but housing prices were increasing very rapidly. 4.The use of payment contracts that automatically adjust for changes in inflation is known as indexing. 5.Indexing is an effective method for preventing rises in the inflation rate.