Refer to Table 9-6. Consider the following values of the consumer price index for 1996, 1997, and 1998: The inflation rate for 1997 was equal to
A) 1.2 percent. B) 2.0 percent. C) 2.5 percent. D) 4.0 percent.
C
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Which of the following statements is true?
A) An excess demand for credit exerts an upward pressure on the real rate of interest. B) At rates of interest below the equilibrium rate, there is an excess supply of credit. C) An excess supply of credit exerts an upward pressure on the real rate of interest. D) At rates of interest above the equilibrium rate, there is an excess demand for credit.
Suppose duopolists face the market inverse demand curve P = 100 - Q, Q = q1 + q2, and both firms have a constant marginal cost of 10
If firm 1 is a Stackelberg leader and firm 2's best response function is q2 = (100 – q1)/2, at the Nash-Stackelberg equilibrium firm 1's output is A) 30. B) 40. C) 60. D) 70.