If the aggregate supply curve is the horizontal an increase in government spending will result in which of the following?
A) Increase/Increase
B) Increase/No change
C) Increase/Decrease
D) No change/Increase
E) No change/No change
Ans: B) Increase/No change
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In the copycat game, there
a. is one Nash equilibrium. b. are two Nash equilibria. c. all the outcomes are Nash equilibria. d. no matter what Ditto chooses, Dot would prefer the other activity.
Refer to Scenario 18.1. When Curly made the loans to Larry and Shemp, the money supply
A) did not change. B) decreased by 300 coins. C) increased by 300 coins. D) increased by 500 coins.
When a cartel breaks down and its members start cheating, the behavior in the industry becomes a
A) noncooperative game. B) zero-sum game. C) high stakes game. D) positive sum game.ax
Which of the following contributes to economic? growth?
A) increase in environmental protection policies
B) increase in labor regulations restricting the hours of overtime allowed
C) increase in labor productivity
D) increase in consumer spending