Refer to Figure 8.1. If Charla and Mirna agree to pay each other $350 to install the pollution-control device on their heating systems, the dominant strategy for the players would be for Charla to play ________ and for Mirna to play ________
A) Install; Install
B) Install; Don't Install
C) Don't Install; Install
D) Don't Install; Don't Install
A
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The federal government incentive to support special-interest groups (steel, auto, drug, environment) at the expense of unorganized, widely dispersed groups (for example, taxpayers or consumers) occurs
(a) only when the benefits that accrue to the special-interest group exceed the costs imposed on others. (b) when nonspecial-interest voters are unconcerned or uninformed about the issue, and campaign funds are readily available from the special-interest group. (c) only if the government action is efficient. (d) only if the government action will reduce the monopoly power of business or labor, and thereby lead to an improvement in the general welfare.
An increase in AD will trigger more inflation under which of the following conditions?
a. AD is relatively steep. b. AD is relatively flat. c. AS is relatively steep. d. AS is relatively flat.
Which of the following is not a form of commodity money?
A. checks B. precious stones C. cigarettes D. all of the above
Refer to the below graph of the market for wheat. The government adopts a price support program for wheat, and supports the wheat price at P2. The area of 0P2AQ1 would measure the:
A. Total amount received by wheat farmers
B. Total profits of wheat farmers
C. Amount the government will pay to wheat farmers
D. Amount private buyers of wheat will pay to wheat farmers