During the Great Depression, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment
A) increased the natural rate of unemployment.
B) decreased the natural rate of unemployment.
C) had no effect on the natural rate of unemployment.
D) could have increased or decreased the natural rate of unemployment.
Answer: C
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In a simultaneous move game, the number of possible pure strategies a player can play is equal to the number of actions he can choose to take.
Answer the following statement true (T) or false (F)
Both conservatives and liberals tend to approve of markets because
a. markets are effective in solving many of society's problems. b. markets work well in all cases, and can be relied upon to solve problems. c. their goals are similar enough that they can rely on the same means. d. production is the most important goal, and market systems are very productive. e. of all of the above.
If a town begins requiring builders to build on one-acre lots, instead of on smaller quarter-acre lots, the supply curve for new homes will
A. shift to the right. B. become flatter. C. shift to the left. D. become steeper.
In a duopoly, if advertising only take customers from rivals rather than attracting new customers, then
A) the Nash equilibrium maximizes the joint payoff B) firms must collude to maximize the joint payoff C) the Nash equilibrium is that neither firm advertises D) there is no dominant strategy