In a game theory model, how is Nash equilibrium achieved?
What will be an ideal response?
Nash equilibrium is achieved as a result of all players playing their best strategy given the strategy of other players.
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A(n) ________ in private expenditures as a result of a(n) ________ in government purchases is called crowding out
A) increase; increase B) decrease; decrease C) decrease; increase D) increase; decrease
Which of the following statements is TRUE?
A) A growing economy should see a decline in relative poverty but not in absolute poverty. B) A growing economy should see a decline in absolute poverty but not in relative poverty. C) A growing economy should see a decline in both absolute and relative poverty. D) A growing economy is usually unrelated to changes in either absolute or relative poverty.
Which of the following is an example of a product sold by an undifferentiated oligopoly?
a. steel b. automobile c. a new drug d. breakfast cereal
Recycling in the United States in recent years
A. has decreased in spite of increased rates for common recycling materials. B. has remained unchanged, and increased rates for recycling may help. C. has increased with increased rates for recycling materials. D. has increased with no help from increased fees for recycling materials.