Refer to Table 4-7. If a minimum wage of $11.50 an hour is mandated, what is the quantity of labor demanded?

In game theory, actions such as cheating that focus solely on short-run gains are referred to as

A) territorial behavior. B) tit-for-tat strategic behavior. C) predatory behavior. D) opportunistic behavior.

If people behave according to rational expectations theory, people would expect the rate of inflation this year to be:

a. the same as last year. b. zero, regardless of the rate last year. c. the rate based on predictable monetary and fiscal policies. d. All of these.