E&S Cooling Co installs air conditioning systems in new houses for homebuilders, and replacement systems for homeowners. Sales of which systems are included in this year's GDP?
a. Sales of replacement systems
b. Sales of both systems
c. Sales of systems in new houses
d. Neither system would be included, because they are always intermediate goods.
a
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Use the following graph to answer the next question.
The graph shows the supply and demand for money where Dm1, Dm2, and Dm3 represent different demands for money and Sm1, Sm2, and Sm3 represent different levels of the money supply. The initial equilibrium point is A. What will be the new equilibrium point following a decrease in the money supply?
A. F B. B C. E D. I
A situation in which both players can adopt moves such that each player's move is its most profitable response to the move of the other is the
a. prisoner's dilemma. b. Nash equilibrium. c. maximin criterion. d. tacit collusion.
A new Mexican restaurant opens in the city of Manchester. The other restaurant owners are not happy about this new restaurant because they are experiencing what externality?
If income rises
A. the demand curve will stay the same since only price effects it. B. the demand curve will shift right. C. the demand curve will shift left. D. one cannot tell which way demand shifts with the information given.