The gross domestic product (GDP) is calculated each year in the United States to determine
A. the level of exports.
B. the health of the economy.
C. whether income taxes should be lowered or raised.
D. how much money should be printed during the year.
B. the health of the economy.
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A shock that increases the costs of production is a
A) positive aggregate demand shock. B) positive aggregate supply shock. C) negative aggregate demand shock. D) negative aggregate supply shock.
Supply-side economics calls for:
a. lower taxes on businesses and individuals. b. regulatory reforms to increase productivity. c. government subsidies to promote technological advance. d. All of these.
This form of promotion offers temporary inducements to buy a product or service:
Advertising Publicity Sales promotion Personal selling
Refer to the payoff matrix. Bob's Burgers and Sam's Sandwiches are competing restaurants in a small town. Both are considering adding pizza to their line of products. If this is a sequential game but we don't know who moves first, what can we say about the final outcome?
A. There is no Nash equilibrium attainable for this game.
B. Cell A represents the only Nash equilibrium possible for this game.
C. Cell D represents the only Nash equilibrium possible for this game.
D. Cells B and C both represent possible Nash equilibrium outcomes for this game.