Wheat farmers in Kansas would benefit from a devastating crop failure in North Dakota (another major wheat-producing state) if the U.S. demand for wheat is

a. inelastic
b. elastic
c. unit elastic
d. downward sloping
e. perfectly elastic

A

Economics

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According to the saving and investment equation, if net foreign investment rises by $60 million

A) national saving will fall by $60 million. B) private saving will fall by $60 million. C) national saving will increase by $60 million. D) domestic investment will rise by $60 million.

Economics

What is the primary difference between a mixed strategy and a pure strategy?

A) Pure strategies are always dominated strategies. B) Mixed strategies call for randomizing over possible actions, pure strategies do not. C) Pure strategies are much more common than mixed strategies. D) Mixed strategies are not optimal whereas pure strategies are.

Economics