In the URL: Http://www

question 44

Multiple Choice

In the URL: http://www.microsoft.com/surface, the portion labeled ".com" is the ________.

• A) subdirectory
• B) host
• C) top-level domain
• D) protocol

Understand the impact of technological advancements on the supply of goods.

Analyze the effects of input costs on the supply of goods.

Interpret market dynamics of surplus and shortage through supply and demand analysis.

Appreciate the role of expectations regarding future prices in supply decisions.

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Definitions:

Evenly Split

A division or distribution of something into equal or nearly equal parts.

Invisible Hand

The tendency of competition to cause individuals and firms to unintentionally but quite effectively promote the interests of society even when each individual or firm is only attempting to pursue its own interests.

Ultimatum Game

A game in experimental economics where a proposer offers how to split a sum of money with a responder, who can accept or reject the offer.

Dictator Game

A behavioral economics experiment that tests how individuals behave when they hold all the power over allocating resources.