After an NFL team wins a Super Bowl the next year the tickets are much harder to find and more expensive. This is caused by a(n)
A. decrease in demand but the supply remaining the same.
B. increase in demand but the supply remaining the same.
C. increase in supply but the demand remaining the same.
D. decrease in supply but the demand remaining the same.
Answer: B
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The table above shows the payoff matrix offered to two suspected criminals, Bonnie and Clyde. The payoffs are the years they will spend in prison. The suspected criminals are not allowed to communicate
Given the information in the payoff matrix, the Nash equilibrium is that Bonnie ________ and Clyde ________. A) confesses; denies B) confesses; confesses C) denies; denies D) denies; confesses E) denies; either confess or denies, either outcome is consistent with the Nash equilibrium.
As world economies start to recover from the 2008 financial crisis and firms expect profits to increase
A) the price level in the U.S. will decrease as firms increase investment. B) the U.S. short-run aggregate supply curve immediately will shift rightward. C) investment will increase and there will be a movement up along the aggregate demand curve. D) both investment and aggregate demand will increase.
A price discriminating monopsonist could increase its profits by
a. paying the minimum wages possible. b. hiring as little capital as possible. c. paying lower wages to workers with inelastic supply of labor curves than to workers with elastic curves. d. paying lower wages to workers with elastic supply of labor curves than to workers with inelastic curves.
New residential housing is counted in GDP as
a. a durable consumption good. b. a household durable good. c. an investment good. d. an inventory expansion. e. a long-term durable good.