Consider Figure 8.9. If the players choose independently, what will be the outcome?
A. Becky chooses a low price and David chooses a low price.
B. Becky chooses a high price and David chooses a low price.
C. Becky chooses a low price and David chooses a high price.
D. Becky chooses a high price and David chooses a high price.
Answer: A
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A) only about one-third B) almost 90 percent C) about 75 percent D) less than 15 percent
Leontief explained his findings by arguing that U.S. labor is more efficient than their foreign counterparts
Indicate whether the statement is true or false
The crowding-out effect is
A. only relevant when an inflationary gap is present. B. a situation in which expansionary fiscal policy leads to a decrease in planned spending in the private sector. C. due to the upward slope of the SRAS when the economy is operating to the right of the LRAS curve. D. due to the government being more powerful in the markets when there is an increase in government spending.
Refer to the information for this hypothetical economy provided in Table 20.1 below to answer the question(s) that follow.Table 20.1 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput9094981029691888487949087Refer to Table 20.1. In this economy, a peak existed around the
A. third quarter of the year 2014. B. fourth quarter of the year 2015. C. fourth quarter of the year 2014. D. third quarter of the year 2016.