Refer to the above figure. At the initial long-run equilibrium, the price level is ________, and the price level will be ________
A) 20; 40 B) 20; 45 C) 40; 45 D) 20; 20
D
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Suppose player 1 potentially moves twice in a sequential game, each time choosing from one of two possible actions -- "Left" or "Right". His first move is at the beginning of the game. He gets to move a second time if he moved "Left" the first time and after observing one of two possible actions by player 2 ("Up" or "Down"). But if he moves "Right" in the first stage, he gets no further moves and the game ends after player 2 chooses one of two actions ("Up" or "Down"). Draw the game tree and list all possible strategies for players 1 and 2.
What will be an ideal response?
When a country continually adds more capital to its existing stock productivity will:
A. increase at a decreasing rate. B. increase at an increasing rate. C. decrease at a decreasing rate. D. decrease at an increasing rate.
What is the difference between human capital and technology?
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.