In 2014, the NCAA was the subject of two antitrust lawsuits related to video games. The NCAA reached a settlement in which it agreed to
A) pay current and former athletes whose names or images had been used in NCAA-branded video games.
B) split into two separate entities, one which monitors college athletics and the other which markets products.
C) stop authorizing the production of NCAA-branded video games.
D) allow schools to pay athletes so it could continue to use their images in the video games.
A
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Behavioral economics refers to the study of situations
A) where consumers and firms appear to value fairness when they make choices. B) where consumers and firms disobey the laws of demand and supply. C) where consumers and firms appear to make choices that are appropriate to reach their goals. D) where consumers and firms do not appear to be making choices that are economically rational.
How does the political system of a country affect its economic performance? a. The political state dictates what will be produced and how it will be produced for many LDC countries and the success of their economies depends upon the success ofthe political leaders in mobilizing the resources of the economies
b. Political revolution is creative in the same way that technological change is creative in the economic system, and these creativities spark the economy's economicperformance. c. The right to vote is equivalent to consumer sovereignty, which is the right to choose one's consumption and employment. d. Political honesty, such as one law for all, helps the poor and they are the backbone of an economy's production. e. Political stability is a prerequisite for long-term investment.
The rising part of a perfectly competitive firm’s ________ cost curve is the firm’s short run _________ curve.
A) average total; supply B) average variable; demand C) average fixed; demand D) marginal; supply
Opening trade between two nations would:
A. shift their production possibilities curves outward. B. shift their production possibilities curves inward. C. leave the production possibilities unchanged and increase their consumption possibilities. D. leave the production possibilities unchanged and decreased their consumption possibilities.