GDP can be calculated by summing:
A. consumption, investment, government purchases, exports, and imports.
B. consumption, investment, government purchases, and net exports.
C. consumption, investment, wages, and rents.
D. consumption, investment, government purchases, and imports.
B. consumption, investment, government purchases, and net exports.
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On a graph we draw indifference curves to illustrate Steven's preferences for steak and broccoli. If two of Steven's indifference curves cross, then it cannot be the case that Steven
a. regards steak and broccoli as complements. b. spends more of his income on steak than on broccoli. c. likes steak and likes broccoli. d. always prefers more steak to less steak and more broccoli to less broccoli.
Joe is the owner of the 7-11 Mini Mart, Sam is the owner of the SuperAmerica Mini Mart, and together they are the only two gas stations in town. Currently, they both charge $3 per gallon, and each earns a profit of $1,000. If Joe cuts his price to $2.90 and Sam continues to charge $3, then Joe's profit will be $1,350, and Sam's profit will be $500. Similarly, if Sam cuts his price to $2.90 and Joe continues to charge $3, then Sam's profit will be $1,350, and Joe's profit will be $500. If Sam and Joe both cut their price to $2.90, then they will each earn a profit of $900. You may find it easier to answer the following questions if you fill in the payoff matrix below. 
width="383" />For Sam, cutting his price to $2.90 per gallon is a: A. dominant strategy. B. revenue-maximizing strategy. C. profit-maximizing strategy. D. dominated strategy.