Research has shown that nations with highly independent central banks tend to have low
A) inflation.
B) interest rates.
C) economic growth.
D) unemployment.
A
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How does the unemployment rate fluctuate over the business cycle?
What will be an ideal response?
In a Bertrand model with differentiated products,
A) firms can set price above marginal cost. B) firms set price at marginal cost. C) price is independent of marginal cost. D) firms set price independently of one another.
Firms that seek to avoid hiring lazy workers that assert they are hardworking are trying to avoid
A) adverse selection. B) moral hazard. C) screening. D) signaling.
If you take a maximin strategy
A) you are irrational according to economic definition. B) you are ensuring that the other player gets the worst possible outcome. C) you are getting the best possible outcome given that the other player does the thing that's worst for you. D) then both players are doing the best they can given the payoffs in the game.