Which of the following is not an example of derived demand?
a. As more high school graduates go on to college, more professors are hired.
b. As consumers buy more computers, they demand more powerful computers as they become available.
c. As people let their hair grow longer, fewer people become barbers.
d. As people buy more tennis shoes instead of sandals, they buy more shoe laces.
e. Increased demand for overnight delivery speeds up orders for new delivery trucks.
B
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Monetarists emphasize
a. crowding-out but not the liquidity trap. b. crowding-out and the liquidity trap. c. the liquidity trap but not crowding-out. d. neither crowding-out nor the liquidity trap.
The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, how many Nash equilibria are there?
A) 0 B) 1 C) 2 D) It cannot be determined.