Which of the following are issues most explored in microeconomics?
A. Measuring the price of specific goods
B. The expenditures of a government entity
C. A firms decision to hire more workers
D. Measuring total revenues of a firm or household
E. All of the above
Answer: E. All of the above
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A change in the capital stock ________ the short-run aggregate supply curve and ________ the long-run aggregate supply curve
A) shifts; shifts B) shifts; does not shift C) does not shift; shifts D) does not shift; does not shift
In a two-player simultaneous game where neither player has a dominant strategy,
A) there is never a Nash equilibrium. B) there is only one Nash equilibrium. C) the actual outcome is unpredictable. D) the actual outcome will not be a Nash equilibrium.
According to Fred Bateman and Thomas Weiss, in terms of industrial capacity in 1860, value added in manufacturing was close to _____ in the North, and _____ in the South
a. $500 million; $500 million b. $750 million; $500 million c. $1 billion; $400 million d. $1.6 billion; $193 million
What is the value of $E in Stage 4?
A) $1,000 B) $1,800 C) $2,440 D) $2,952