The equation 
is the
A. average propensity to consume.
B. average propensity to save.
C. marginal propensity to consume.
D. marginal propensity to save.
Answer: B
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The above figure shows a labor market with minimum wage equal to $16. In this figure, what area equals the firms' surplus?
A) area A B) area B C) area C D) area D E) area E
Refer to the payoff matrix below. If Camp with Us is known for consistently offering special financing and this is the focal point, what is the equilibrium of the game using the focal point criterion?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) Camp with Us Offer Financing and Happy Campers Do Not Offer Financing
B) Camp with Us Offer Financing and Happy Campers Offer Financing
C) Camp with Us Do Not Offer Financing and Happy Campers Do Not Offer Financing
D) Camp with Us Do Not Offer Financing and Happy Campers Offer Financing
Microeconomics focuses on ____; macroeconomics concentrates on ____
a. the basic tools of analysis; the use of abstractions and models b. the economies of various countries; the decisions of individual companies c. the decisions of individual units; the behavior of entire economies d. the economic aggregates; the decisions of individual units
A pharmaceutical company develops a new drug for treating cancer. What type of market barrier has been created?
a. Licenses b. Patents c. Control of an essential resource d. Economies of scale