The statement "If Harvey goes to Subway then Candice should go to Subway, and if Harvey goes to Taco Bell, then Candice should go to Taco Bell" is an example of locating equilibria by using the technique known as
A) mutual interdependence.
B) cooperative coordination.
C) cell-by-cell inspection.
D) best-response analysis.
D
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Which of the following are included in interest income?
i. payments made for the use of land ii. income paid to households for loans they make iii. payments made by households for their borrowing A) i, ii and iii B) ii and iii only C) i and ii only D) iii only E) ii only
Developing countries often justify imposition of tariffs because:
a. it creates a burden on government budget. b. it is easy to collect direct taxes from people in the developing countries. c. a large number of people in the developing countries earn a taxable income. d. developing countries find income taxes difficult to levy and collect. e. the volume of imports of these countries is considerably low.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.
A society is saving lives (productively) efficiently if
a. there are no unemployed resources in the health care sector b. there are no unemployed resources anywhere in the economy c. there is no way to save more lives d. there is no way to save more lives without sacrificing some other goods or services e. the opportunity cost of saving one more life is zero