Refer to Figure 9.2. At price 0H and quantity Q1, consumer surplus is the area
A) EDGF.
B) 0FGQ1.
C) HFGB.
D) EFC.
E) none of the above
C
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A Nash equilibrium occurs when ________
A) each player has a dominant strategy B) none of the players has a dominant strategy C) each player can increase his payoff by choosing a different strategy D) none of the players can increase their payoffs by choosing a different strategy
The elasticity of the momentary supply curve for any good always equals
A) zero. B) one. C) positive infinity. D) None of the above answers is correct.
Under the gold standard of the Great Depression, any country experiencing a balance of payment deficit was expected to finance those deficits by exporting gold
The loss of gold should be followed by contractionary monetary policy, reducing demand and causing prices to fall. All countries operating under the gold standard followed these rules of the game throughout the Great Depression. Indicate whether the statement is true or false
Xavier is on layoff from his assembly-line job in Detroit, and he expects to return in about four weeks. During this time, he is vacationing in Florida. The Bureau of Labor Statistics would classify Xavier as
a. employed. b. unemployed. c. not part of the labor force. d. a temporary retiree.