The components of a game include
A) the number of players.
B) a set of implicit rules.
C) perceptions and boundaries.
D) all of these choices are included.
D
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Labor productivity is ________ divided by the ________
a. units of labor employed; total output b. total output; units of labor employed c. the wage rate; the price of the good or service produced d. units of labor employed; the wage rate
The Coase bargaining solution is named after:
A. Ronald Coase. B. John Coase. C. William G. Coase. D. Alexander Coase.
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained the same in year 2 except that business inventories increased by $10 billion. GDP in year 2 is:
A. $180 billion. B. $190 billion. C. $200 billion. D. $210 billion.
If a perfect competitor is taking an economic loss of $22,000, the firm is
A. probably in the short run. B. probably in the long run. C. definitely in the short run. D. definitely in the long run.