The current chair of the Board of Governors of the Federal Reserve is

A) Janet Yellen. B) John Snow. C) Alan Greenspan. D) Henry Paulson.

A

Economics

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One economic truism is that any nation's restriction of imports will ultimately lead to

A) an increase in exports. B) a reduction in exports. C) an economic upswing. D) an increase in GDP.

Economics

Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2 ) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2. Suppose there were no barriers to entry and firms continued to enter so long as there were positive economic profits. At the Nash-Cournot equilibrium, the total output, Q, is

A) 30. B) 45. C) 60. D) 90.

Economics