Refer to Figure 12.2. How many Nash equilibriums are there?
A. 0
B. 1
C. 2
D. 3
C. 2
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One effect of the work requirements of welfare reform has been
a. to make the demand curve for welfare upward sloping b. to lower the "price" of welfare to recipients c. to make the supply curve of welfare upward sloping d. to reduce the amount of hassle involved with going on welfare e. to raise the "price" of welfare to the recipients
A financial intermediary accepts deposits from savers and makes loans to borrowers
a. True b. False Indicate whether the statement is true or false
Lorrie will receive a nominal wage increase of 10 percent this year. The inflation rate was 5 percent last year and is predicted to be 8 percent this year. If the economic forecast is correct, her real wage this year
a. will increase by approximately 2 percent b. will increase by approximately 8 percent c. will increase by approximately 5 percent d. will remain the same e. cannot be calculated without knowing the number of dollars by which her wage increases
If we observe a great deal more advertising for Mucinex, an over-the-counter drug, than for a Grainger drill press, we can infer that
a. more money is spent on Mucinex than on Grainger drill presses. b. the market for Mucinex is more highly differentiated than the market for Grainger drill presses. c. Grainger has lower costs of production than Mucinex. d. Mucinex operates in an oligopoly, while Grainger operates in a monopolistically competitive market.