If the average cost of flying the next flight is zero and one passenger is on the plane and has paid $50, should the next flight be flown?
A) Yes.
B) No.
C) Can't tell from the data provided.
D) The plane should wait for at least one more passenger.
C
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Opportunity cost can best be defined as the
A. money cost of a good or service. B. money cost plus interest on money borrowed to buy a good or service. C. cost of the resources used to produce a good or service. D. value of the best alternative forgone when the alternative at hand is chosen.
Refer to Figure 4.8. How many different Nash equilibrium points are there in this game?
A) 0 B) 1 C) 2 D) 3
What is the government purchases multiplier if the tax rate is 0.2 and the marginal propensity to consume is 0.8? Assume the economy is closed
A) 2.78 B) 5 C) 6.25 D) 100
The U.S. dollar exchange rate describes the
a. the deficit/surplus situation in the balance of payments. b. the price of a foreign currency in terms of dollars. c. the deficit/surplus situation in the merchandise trade balance. d. future changes in foreign balance of payments. e. none of the above.