In Figure 3-4 above, an equilibrium income of 2000 occurs when planned autonomous spending is
A) 750.
B) 800.
C) 1250.
D) 250.
B
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A version of the battle of the sexes game that results in disaster if each player plays his or her tough strategy is called
A) a prisoner's dilemma game. B) a chicken game. C) an assurance game. D) a pure coordination game.
Dr. Khan starts his own dental practice after quitting his $150,000 job at The Mall Dental Clinic. His revenues for the first year are $500,000
He paid $90,000 in rent for the dental office, $60,000 for his office manager's salary, $24,000 for the dental hygienist, $150,000 for insurance, and $6,000 for other miscellaneous costs. The normal profit from running his business is $20,000. Which of the following statements is true? A) His accounting profit is $350,000. B) His economic profit is $150,000. C) His economic profit is zero. D) His accounting profit is zero. E) None of the above answers is correct.
Which aspects of globalization help to increase growth in the world economy?
What will be an ideal response?
Which of the following is not true about the demand curve for labor of a competitive firm? a. As the wage rate the firm pays decreases, the quantity of labor it demands (employs) increases
b. It shows how much labor the firm is willing to employ at different wage rates. c. It is identical to the marginal revenue product curve of labor. d. The wage rate exceeds the workers' opportunity costs. e. It is downward sloping.