Based upon the equation of exchange, which of the following (ceteris paribus) is most likely to bring about inflation?
A) An increase in the money supply.
B) A decrease in velocity.
C) An increase in Real GDP.
D) a and b
E) a and c
A
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A legal organization of a firm where the business is owned by one individual who makes the business decisions, receives all the profits, and is legally responsible for the debts of the firm is a(n)
A) corporation. B) entrepreneur. C) proprietorship. D) partnership.
When there is no Equilibrium (or no Nash Equilibrium), we expect that:
a. the firms end up in the cooperative strategy. b. a firm will follow a randomized strategy. c. a firm will not care what it does. d. a firm will very likely have a dominant strategy.
Josh mows lawns. If the demand for lawn-mowing service is elastic and Josh wants to increase his total revenue, he should
a. increase the price of his lawn-mowing service. b. decrease the price of his lawn-mowing service. c. reduce the costs of operating his lawn-mowing service. d. More than one of the above is correct.
The willingness of certain people to use coupons sends a signal to businesses that those people ______.
a. have a steep demand curve b. are minimally reactive to price changes c. are willing to pay higher prices d. have an elastic demand