In the United States, the supply curve for human organs currently is:
a. vertical
b. horizontal.
c. downward sloping.
d. upward sloping.
a
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A profit maximizing firm in any type of market for its output would hire the quantity of labor at which
a. the marginal cost of output is equal to the marginal revenue product of labor, where MRP is sloping downward. b. the wage rate is equal to marginal revenue product, where MRP is downward sloping. c. the wage rate is equal to marginal revenue product, where MRP is still sloping upward. d. the difference between the wage rate and marginal revenue product is greatest.
If a separating equilibrium is played in a signaling game, the receiver will "update" his beliefs during the game.
Answer the following statement true (T) or false (F)
Economists generally believe that
a. buyers and sellers have all the information they can use b. additional information is costly to acquire c. decision makers have complete knowledge of all the alternatives available d. economic decisions result from random behavior e. decision makers never make mistakes
The Great Recession began in ________ and ended in ________.
A. October 2008; December 2011 B. October 2008; June 2009 C. December 2007; June 2009 D. December 2007; December 2011