Firms will only invest if there are profits in their industry.
Answer the following statement true (T) or false (F)
False
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Refer to Game Matrix II. In this game,
Game Matrix II
The following questions refer to the game matrix below. Player A can play the strategies "High" and "Low," and Player B can play the strategies "Odd" and "Even."
a. players A and B both have dominant strategies.
b. player A has a dominant strategy, but player B does not.
c. player B has a dominant strategy, but player A does not.
d. neither player has a dominant strategy.
Why is the equilibrium in a trust game socially inefficient?
What will be an ideal response?
A recessionary gap means that the level of real GDP at the short-run macroeconomic equilibrium
A) is less than full-employment GDP. B) equals full-employment GDP. C) is more than full-employment GDP. D) may be less than, more than, or the same as full-employment GDP depending on the level of potential GDP.
Subsidies paid to the health care industry for Medicare patients are paid by
A) Congress. B) the Teamsters union. C) current taxes. D) the Federal Reserve.