The outcome of the Stackelberg model is
A) a Nash equilibrium.
B) the same as the Cournot outcome.
C) that the follower earns zero profit.
D) that the follower cannot be on its best-response curve.
A
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In the above figure, the short-run equilibrium will eventually adjust to a long-run equilibrium with a
A) lower price level and smaller real GDP B) higher price level and larger real GDP. C) higher price level and smaller real GDP. D) lower price level and larger real GDP.
If expected inflation falls but actual inflation remains the same, what happens to the unemployment rate? Defend your answer
The list of tasks, duties, and responsibilities that make up a job is a ________
A. job analysis. B. job evaluation C. job specification. D. a job description
In a market system, the primary instruments used to coordinate economic activity are
A. plans. B. prices. C. input-output analyses. D. quantities.