Are money and income the same thing?
a. No, money is measured at a point in time and income is measured for a period of time.
b. No, money is measured for a period of time and income is measured at a point in time.
c. Yes, they are just measured in different ways.
d. Yes, the only difference is real versus nominal.
a
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Suppose the demand for Pepsi-Cola is qp = 50 - 2pp + 1pc. The firm faces a constant marginal cost of m, and pc denotes the price of Coca-Cola
Assuming Bertrand behavior, derive Pepsi-Cola's best-response function and explain how the firm changes price in response to changes in its own marginal cost and changes in Coca-Cola's price.
Major achievements of the Roosevelt administration in the field of conservation included all of the following except
a. protection of 150 acres of national forests. b. retention of rights to 75 million acres of mineral wealth. c. adoption of policies that would ultimately provide for construction of reservoirs and irrigation projects. d. protection of over 100 species of animals and birds, including the bald eagle.