Refer to the figure below. Player A can infer that Player B will:
A. choose Left.
B. choose Left when A chooses Up and choose Right when A chooses Down.
C. choose Right.
D. Player A cannot infer anything about what Player B will do given this matrix.
Answer: A
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An appeal to consumers to purchase union-made products represents an attempt to
a. increase the supply of union labor b. increase the demand for union labor c. decrease the supply of union labor d. decrease the quantity demanded of union labor e. decrease the demand for union labor
If national income is $400 billion, consumption spending is $380 billion, and MPC is 0.5, what is the level of saving?
a. $20 billion b. $210 billion c. $380 billion d. $590 billion e. $780 billion
When marginal cost exceeds marginal revenue,
a. marginal profit < 0. b. the firm should increase output. c. marginal profit + marginal cost > marginal revenue. d. marginal cost < marginal revenue ? marginal profit.
Which of the following is the best choice to eliminate a recessionary gap if the desired fiscal stimulus is $10 billion and the aggregate demand shortfall is $100 billion, while the MPC is 0.90?
A. Tax cut of $10 billion. B. Tax hike of $10 billion. C. Tax hike of $11.11 billion. D. Tax cut of $11.11 billion.