The length of money or commodity demand disturbances is important to the "policy activism" debate between non-activists and activists because
A) changing the money supply affects the economy with a lag.
B) changes in private spending must be offset by policy debate.
C) Both A and B are correct.
D) None of the above is correct.
A
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Refer to Game Matrix III. The Nash equilibrium is to be found where
Game Matrix III
The following questions refer to the game matrix below. Each firm has a choice of advertising, Ads, or not advertising, No ad. The profits each gets depend upon which it chooses.
a. neither firm advertises.
b. Firm A advertises, Firm B does not.
c. Firm A does not advertise but Firm B does.
d. both firms choose to advertise.
In the market for production, households offer resources like _____ in return for _____
a. labor; income b. land; profit c. land; human capital d. labor; revenue
What is the difference between a nominal value and a real value?
A. A nominal value is measured in monetary units while a real value is measured in current dollars. B. A nominal value is measured in market rates while a real value is measured in terms of exchange rates. C. A nominal value is measured in units of constant purchasing power while a real value is measured in units of current purchasing power. D. A nominal value is measured in current market prices while a real value is measured in base year prices.
The __________ summarizes the output of the business, given the level of inputs.
A. average cost B. marginal function C. marginal revenue D. production function