The ________, the ________ is the quantity of real GDP supplied and the ________ is the quantity of real GDP demanded
A) lower the price level; greater; smaller
B) lower aggregate demand; greater; smaller
C) higher the price level; greater; smaller
D) lower the supply of labor; greater; smaller
E) greater the demand for labor; smaller; greater
C
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Suppose a person defects from Cuba (a country that generally disregards the use of markets) to the United States and asks to see a market in action. Where would you take her? Did you give her a complete showing of this market?
The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital. This game is an example of a:
A. game with multiple equilibria. B. credible promise. C. prisoner's dilemma. D. cartel.