If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected.
B. only the long-run aggregate supply curve would shift left.
C. only the short-run aggregate supply curve would shift left.
D. the long-run and short-run aggregate supply curves would both shift left.
Answer: D
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Two players are playing a game. Player 1 is given $100 and is asked to offer a certain share of the money to Player 2. Player 2 can then choose to accept or reject the offer
If he accepts the offer, the money will be split between the two players in the ratio as decided by Player 1. If he rejects the offer, neither of the players will get anything. a) Assume that both players prefer more money to less. How would Player 1 choose his optimal strategy in this case? b) If Player 2 prefers fairness to money, how will his decision change?
HMOs create the incentive to _____
a. minimize health care expenditures b. avoid important but expensive procedures c. enroll individuals with serious illnesses d. a and b
Bread and butter are complements. A decrease in the price of bread results in a(n)
a. decrease in the supply of break b. increase in the demand for butter c. increase in the demand for bread d. increase in resource prices e. violation of the law of demand
When demand and supply both decrease, equilibrium price will _________ and equilibrium quantity will _________.
A. increase; decrease B. decrease; decrease C. remain the same; decrease D. Any of these answers are possible