Demand for the services of Los Angeles Dodgers' pitcher Clayton Kershaw is
A. an output demand.
B. unrelated to his true productivity.
C. horizontal.
D. derived from the demand for Los Angeles Dodgers' tickets when Kershaw plays.
Answer: D
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If an economy is in an equilibrium with an inflationary gap, policymakers can use
A) discretionary fiscal policy and decrease government expenditure. B) automatic fiscal policy and increase government expenditure. C) discretionary fiscal policy and cut taxes. D) automatic fiscal policy and cut taxes. E) discretionary fiscal policy and increase government expenditure.
Use Figure 16.2 above to answer the following question. Assume that MPC represents the marginal private cost and MB is the marginal private benefit for a particular firm
Assume however, that the MDC represents the marginal damage cost of this firm's activity and the MSC is the marginal social cost. How much output would the firm produce if it had to internalize the negative externality.
Which of the following statements is true?
A) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice and corn crops. B) France is the leading exporting country, accounting for 10 percent of total world exports. C) Japan is more dependent on foreign trade than is the United States. D) Imports and exports account for over one-half of the GDP of Belgium.
A game in which any gains by the group are exactly offset by equal losses by the end of the game is called the
A) negative-sum game. B) zero-sum game. C) positive-sum game. D) cooperative game.