Productivity is the amount of output produced by a unit of input.
Answer the following statement true (T) or false (F)
True
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Refer to Table 14-2. Is the current strategy in which each firm charges the low price and earns a profit of $7,000 a Nash equilibrium? If not, why and what is the Nash equilibrium?
A) No, it is not a Nash equilibrium because each firm can do better by charging the high price. The Nash equilibrium occurs when each firm charges the high price and earns a profit of $10,000. B) No, the current situation is not a Nash equilibrium. The Nash equilibrium for each firm is to have the other charge a high price and for the firm in question charge a low price. C) Yes, the current situation is a Nash equilibrium. D) No, the current situation is not a Nash equilibrium; it is a dominant strategy equilibrium. There is no Nash equilibrium in this game.
In a one-period economy, all of the following are equivalent expressions of the budget constraint except
A) C = w(NS + l) + ? - T. B) C = wNS + ? - T. C) C = w(h - l) + ? - T. D) C = wl = wh + ? - T.
Which of the following is most likely to increase U.S. exports?
a. The government gives subsidies to U.S. firms that export goods or services. b. The government reduces the size of the budget surplus. c. The United States unilaterally reduces its restrictions on foreign imports. d. Taxes on domestic saving rise.
The price of a coupon bond is determined by:
A. taking the present value of the coupon payments and adding this to the face value. B. taking the present value of all of the bond's payments. C. estimating its future value. D. taking the present value of the bond's final payment and subtracting the coupon payments.