Assumptions of the PPC
What will be an ideal response?
Full employment, fixed resources, fixed technology, two goods economy
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If the natural monopoly shown in the figure above is unregulated, it will sell
A) 2 million units. B) 3 million units. C) 4 million units. D) 5 million units.
The difference in unemployment rates between Europe and the U.S. has been narrowing partly because
a. tax rates in European countries are generally lower. b. economic conditions in Europe and the U.S have been converging. c. European and American labor unions have been coordinating their activities. d. of a change in labor market policies. e. Europe has been making it easier for workers to gain unemployment benefits
When there is an increase in demand,
a. the demand curve shifts toward the origin of the graph. b. the demand curve twists clockwise. c. the demand curve shifts away from the origin of the graph. d. the demand curve twists counterclockwise. e. a lower price has increased the amount of the good that consumers will buy.
A game in which the first player has the power to confront the second player with a take-it-or-leave-it offer is the:
A. repeated prisoner's dilemma. B. ultimatum bargaining game. C. matching pennies game. D. Nash bargaining game.