What are common resources?
a) both rival in consumption and nonexcludable
b) both rival in consumption and excludable
c) both nonrival in consumption and excludable
d) both nonrival in consumption and nonexcludable
Ans: a) both rival in consumption and nonexcludable
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In games with more than three players, the vertical axes measure
A) the number of players. B) payoffs. C) time. D) all of the above
Americans are always connected today, talking on the phone at home, while driving down the road and while shopping for groceries. But that wasn't always the case
In fact, it wasn't that long ago people had to go through an operator in order to get connected with the person they were trying to reach. How do cell phones impact the labor market for telephone operators? A) Decreased telephone operators' value of marginal product B) Increased the demand for telephone operators C) Increased the supply for telephone operators D) Decreased the marginal productivity of telephone operators
The cross price elasticity for Bud Light for a change in the price of Coor's Light is likely to be
A. negative but less negative than -1. B. positive. C. negative and more negative than -1. D. zero.
First, explain what seignorage is. Second, write out and explain the expression that represents seignorage. And finally, what policies can a central bank implement to increase seignorage?
What will be an ideal response?