If you have a chance to be a stand-up comic earning $2 million, a plumber at $100,000, or an assembly line worker at $20,000, and would be willing to work at any of these jobs for $20,000, how much would your economic rent be if (a) you were a stand-up comic? (b) you were a plumber? (c) you were an assembly line worker?
What will be an ideal response?
(a) $1,980,000 (b) $80,000; (c) 0.
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Refer to Figure 8.1. If each player cooperated with one another, each player would find themselves ________ better off than they are by playing their dominant strategies
A) $0 B) $280 C) $490 D) $560
Which of the following statements is generally true?
A) Rivalry is less the larger the number of firms in an industry. B) The smaller the number of firms in an industry, the greater the rivalry. C) The degree of rivalry in an industry is largely independent of the number of firms. D) The larger the number of firms in an industry, the greater the rivalry.
For how long must most hedge fund investors wait before withdrawing funds?
A) 1 to 3 days B) 1 to 3 weeks C) 1 to 3 months D) 1 to 3 years
Changes in net worth and liquidity may significantly affect the volume of lending and economic activity according to the
A) interest rate channel. B) balance sheet channel. C) money channel. D) bank lending channel.