What is an example of a sequential game?
What will be an ideal response
Answer: The stackelberg model -- players are thinking about their opponent's possible actions/reactions
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Assume that the currency—deposit ratio is 0.2 and the reserve—deposit ratio is 0.1. The Federal Reserve carries out open-market operations, purchasing $1 million worth of bonds from banks. This action will increase the money supply by
A) $1 million. B) $2 million. C) $3 million. D) $4 million.
The purpose of the Freedom to Farm Act of 1996 was to:
A. immediately end U.S. farm subsidies. B. end 60 years of U.S. price supports for American grain crops. C. eliminate U.S. tariffs and quotas on imported farm goods. D. stabilize short-run crop prices.
Refer to the information provided in Figure 23.7 below to answer the question(s) that follow.
Figure 23.7Refer to Figure 23.7. In Spiceland, income does not vary with planned investment. Spiceland's planned investment function is represented by
A. Panel A. B. Panel B. C. Panel C. D. Panel D.
You are hired by the Council of Economic Advisors (CEA) as an economic consultant. The chairperson of the CEA tells you that she believes the current unemployment rate is too high. The unemployment rate can be reduced if aggregate output increases. She wants to know what policy to pursue to increase aggregate output by $300 billion. The best estimate she has for the MPC is 0.8. Which of the following policies should you recommend?
A. Reduce taxes by $75 billion. B. Increase government purchases by $75 billion. C. Reduce taxes by $75 billion and to increase government purchases by $75 billion. D. Reduce the budget deficit by $300 billion.