We may not be able to predict the outcome of a two-player game when
a. each player follows a strategy that negates the strategy of the other player
b. price exceeds marginal cost
c. neither player has a subsistence strategy
d. neither player has a dominant strategy
e. at least one player has a bilateral strategy
D
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An increased federal budget deficit resulting from a recession can actually help stabilize an economy, because corporate profits tend to fall in a recession which, in turn, results in ________ corporate taxes and ________
A) lower; increases in the price level B) lower; fewer spending cuts for businesses C) higher; larger profits for businesses D) higher; more tax revenue for the government
Which of the following examples, ceteris paribus, best describes the situation shown?
a. Output is permanently changed as a result of the increase in input prices.
b. Input prices are both temporarily and permanently increased.
c. There are no permanent changes in input supply associated with the increase in input prices.
d. The increase in input prices is accompanied by an increase in the labor force.
In the short run, fiscal and monetary policy cause unemployment and inflation to move in opposite directions because
A. the Fed and Congress rarely agree on policy. B. one controls aggregate demand, the other controls aggregate supply. C. both policies control only aggregate supply. D. both policies control only aggregate demand.
“To be sure, any theoretical model must be abstracted ‘from the richness and complexity of behavior.’ However, abstraction becomes falsification when it so simplifies human behavior as to leave it unrecognizable and unexplained.” Explain
Please provide the best answer for the statement.