Refer to Figure 4-3. If the market price is $4.00, what is the maximum number of ice cream cones that Kendra will buy?
A) 0 B) 2 C) 3 D) 4
A
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Over the past few years, airlines have tended to compete in the market for intercontinental business class travelers on the basis of:
A) price. B) cost. C) timeliness of their flight schedules. D) amenities.
Upon getting a big promotion, Sally decides to buy a house in the neighborhood she grew up in as a child. In fact, the house she buys used to belong to a neighbor of hers, and so she's certain it's in good shape and well worth the $200,000 she pays for it. The only thing Sally needs to do is replace all the gutters for $1,000, which she happily does. How will GDP be affected by Sally's recent purchases?
A. Consumption will increase by $1,000, and investment will increase by $200,000. B. Consumption will increase by $210,000. C. Investment will increase by $201,000. D. GDP will increase by $1000.
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.According to the figure shown:
A. both have incentive to put forth high effort. B. both will act in their own self-interest and get a stable, but less than optimum, equilibrium. C. there is no stable equilibrium to the game. D. both will act in their own self-interest and get an optimum equilibrium that is stable.
The one central bank president that always has a seat on the Federal Open Market Committee is located in:
A. New York City. B. Boston. C. San Francisco. D. Chicago.