Which one of the following events will leave GDP unchanged?
a. You pay $500 to repair your car damaged in an accident.
b. You buy a new domestic car to replace one that was stolen.
c. You lose $500 playing blackjack with friends.
d. You work extra hours this month to help make up for the money you lost playing blackjack.
C
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Which of the following always raises the equilibrium price?
A) an increase in both demand and supply B) a decrease in both demand and supply C) an increase in demand combined with a decrease in supply D) a decrease in demand combined with an increase in supply
Refer to Table 14-3. Is there a dominant strategy for Nigeria and, if so, what is it?
A) Yes, it has a dominant strategy depending on what Saudi Arabia does. B) Yes, the dominant strategy is to produce a high output. C) Yes, the dominant strategy is to produce a low output. D) No, there is no dominant strategy.