What has been the range of federal spending as a percentage of GDP since 1960?
a. 10 percent to 12 percent
b. 13 percent to 15 percent
c. 18 percent to 22 percent
d. 25 percent to 30 percent
c. 18 percent to 22 percent
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The above figure shows a labor market with minimum wage equal to $16. In this figure, after taking account of search costs, what area equals the workers' surplus?
A) area A B) area B C) area C D) area D E) area E
The table above shows the payoff matrix offered to two suspected criminals, Bonnie and Clyde. The payoffs are the years they will spend in prison. The suspected criminals are not allowed to communicate
Given the information in the payoff matrix, the Nash equilibrium is that Bonnie ________ and Clyde ________. A) confesses; denies B) confesses; confesses C) denies; denies D) denies; confesses E) denies; either confess or denies, either outcome is consistent with the Nash equilibrium.