Which of the following is a public good?
A. public defense
B. public television
C. a library
D. schools
E. all of these answer options are correct.
D. schools
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Suppose a monopolist is producing a level of output such that MR > MC. What should the firm do to maximize its profits?
A) The firm should do nothing — it wants to maximize the difference between MR and MC in order to maximize its profits. B) The firm should hire less labor. C) The firm should increase price. D) The firm should increase output.
The annuity factor ________ by the amount of the annual payment equals the ________ value of payments for the specified number of years at the specified discount rate.
A) multiplied; future B) divided; present C) divided; future D) multiplied; present
Conventional economic theory suggests that in the ultimatum game, the player proposing a split of $50 will propose that she get $49 and that the other player get $1 . By the same reasoning, if the amount to be split is $1000, the player proposing the split will propose that she gets
a. $500 and that the other player gets $500. b. $998 and that the other player gets $2. c. $999 and that the other player gets $1. d. $1000 and that the other player gets nothing.
According to the long-run Phillips curve, if the Fed increases the growth rate of the money supply, what happens to the inflation rate and the unemployment rate in the long run?