The large influx of immigrant families between 1860 and 1910 caused the total population to grow at a faster rate than the work force
Indicate whether the statement is true or false
False
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When banks fail during a financial crisis, ________
A) the removal of these weak institutions serves to strengthen the financial system B) the elimination of competitors is likely to spark a credit boom C) there is a loss of information that can cause the crisis to worsen D) surviving banks resort to financial engineering to retain customers
In the above figure, what happens to the firm's optimal level of output if the price it receives for its product increases from P2 to P3?
A) Output stays the same. B) Output decreases. C) Output increases. D) There is not enough information provided to know what happens to output.
The worst hyperinflation ever recorded happened in:
A. Hungary. B. Brazil. C. Zimbabwe. D. Germany.
Consider an example of the prisoner's dilemma where 2 firms are making sealed bids on a contract and each firm is allowed to bid either $100 or $180. If both firms bid the same price, the job is shared equally and each firm earns half the value of its bid. Otherwise the lowest bidder wins the contract and receives the full value of its bid (and the other bidder earns zero). The non-cooperative outcome in this situation is
A) both firms bid $90. B) both firms bid $180. C) both firms bid $100. D) one firm bids $100, the other firm bids $180. E) both firms bid $50.