In finitely repeated price-fixing game, the dominant strategy of each player is to break the agreement on every play
Indicate whether the statement is true or false
T
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The marginal physical product of labor for the most recent worker hired by Ajax is 286. If Ajax were to hire an additional worker we would expect the marginal physical product of labor to
A) remain at 286. B) be below 286. C) be above 286 by a small amount. D) be above 286 by a large amount.
An increase in the amount of capital per worker always increases the value of output
a. True b. False Indicate whether the statement is true or false
Legislators often have difficulty passing legislation with widespread benefits, but that imposes concentrated costs because those who bear the costs will __________ the legislation, while those who would reap the benefits will __________ the legislation
a. protest; actively support b. not protest; not actively support c. not protest; actively support d. protest; not actively support e. protest; protest
Given the following data for the economy, compute the value of GDP.Government purchases of goods and services10Consumption Expenditures70Exports5Imports12Change in inventories-7Construction of new homes and apartments15Sales of existing homes and apartments22Government payments to retirees17Business fixed investment9
A. 56 B. 141 C. 83 D. 90