A Nash equilibrium occurs when ________
A) each player has a dominant strategy
B) none of the players has a dominant strategy
C) each player can increase his payoff by choosing a different strategy
D) none of the players can increase their payoffs by choosing a different strategy
D
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The quantity of a public good supplied by a private market is
A) smaller than the efficient quantity. B) equal to the efficient quantity. C) larger than the efficient quantity. D) the quantity that maximizes total public benefit.
Suppose in 2000 . nominal GDP in Russia was 1000 rubles and it increased to 2000 rubles in 2001 . If we know that the base year is 2000 and the GDP deflator in 2001 is 100, then of the 1000 ruble increase in nominal GDP, ______ is an increase in real GDP
a. none or 0 rubles b. all, or 1000 rubles c. 500 rubles d. 2000 rubles e. 100 rubles
An identity is an equation that
a. describes an equilibrium. b. pertains to macroeconomics, not to microeconomics. c. must be true because of how the variables in the equation are defined. d. involves final goods, not intermediate goods.
Monetizing deficits has led to serious inflation in
A. the United States. B. Canada. C. the United Kingdom. D. Russia, Latin America, and Israel. E. All of the above are correct.