Output in an economy can be decreased by
A. using more machines.
B. limiting the work week.
C. adding more workers.
D. all of the above
Answer: B
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The formula for the effect of any change in autonomous spending, ?A, where b equals the MPC is
A) ?Y = ?A [1/(1 - b)]. B) ?Y = ?A [b/(1 - b)]. C) ?Y = ?A [1/(1 + b)]. D) ?Y = ?A [b/(1 + b)].
Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, then in absolute value
A) W = X = $10. B) W = X = $20. C) W = Y = $100. D) W = Y = $200. E) W = Y = $300.
The game in the figure shown is a version of:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.
A. the prisoner's dilemma.
B. the first-mover advantage.
C. a sequential game.
D. a repeated game.
If the consumer price index (CPI) in Year X was 300 and the CPI in Year Y was 325, the rate of inflation for Year Y was:
a. 325 percent. b. 25 percent. c. 5 percent. d. 8 percent.