The annual percentage increase in the purchasing power of a financial asset is called the:
A. inflation rate.
B. real rate of return.
C. nominal interest rate.
D. real interest rate.
Answer: D
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The amount Jacqueline receives for selling cupcakes beyond the minimum she would be willing to sell the cupcakes for is called
A) consumer surplus. B) producer surplus. C) cooperative surplus. D) deadweight loss.
In the above figure, what is the full-employment real wage rate and quantity of hours per year?
A) $40 and 60 billion hours per year B) $50 and 100 billion hours per year C) $35 and 100 billion hours per year D) $50 and 40 billion hours per year
In a non-cooperative, imperfect information, simultaneous-choice, one-period game, a Nash equilibrium
A) will never exist. B) will always include dominant strategies. C) will always result in both players taking the same action. D) may not maximize the sum of the firms' profits.
Which factor would cause a movement along the demand curve for pizza?
A) an increase in the number of students in town B) a renewed preference for Italian food C) a drop in the price of pizza D) an increase in average income