Figure 9-2
indicates that the output of the economy, y1, is
a.
greater than the economy's long-run capacity.
b.
equal to the economy's long-run capacity.
c.
less than the economy's long-run capacity.
d.
in short-run equilibrium but not long-run equilibrium.
b
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Figure 9-17 shows that for this perfectly competitive firm, the profit-maximizing output level is
a. 0. b. 25. c. 75. d. 200.
Which of the following statements is TRUE?
a. The HeckscherOhlin model offers a reasonable explanation of the pattern of trade and the gains from trade. b. The HeckscherOhlin trade model does not offer an explanation of the pattern of trade. c. The HeckscherOhlin trade model does not offer an explanation of the gains from trade. d. The Riparian trade model (with labor as the only input) offers a better explanation of the pattern of trade and the gains from trade than the HeckscherOhlin model.
At the full-employment unemployment rate there is only:
a. Demand-deficient unemployment b. Frictional and structural unemployment c. Cyclical and frictional unemployment d. "discouraged workers" unemployment
Collusion is more successful in a game that will continue forever or in a game with an uncertain ending time than in a game with a known ending time
What will be an ideal response?