The United States first instituted an income tax in
a. 1851
b. 1861
c. 1871
d. 1881
b
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The situation where movers are less capable and less motivated than similarly educated people who don't migrate is called:
A. Backflow B. Brain drain C. Reverse migration D. Negative self-selection
Which of the following is not a characteristic of a prisoner's dilemma game?
A) Defecting is a dominant strategy for each player. B) Each player has two strategies: cooperate or defect. C) There is a single Nash equilibrium. D) The Nash equilibrium is the best outcome for each individual and for the grou
Suppose tastes are NOT monotonic anywhere. Then diminishing MRS is not consistent with convexity of tastes.
Answer the following statement true (T) or false (F)
A firm sells 30 units of its product at a price of $5 per unit. It incurs a fixed cost of $100 and a variable cost of $20. The firm's profit is:
A) $30. B) $50. C) $100. D) $150.