An outcome in which all players choose the best strategy they can, given the choices of all other players, is called:
A. a dominant strategy.
B. collusion.
C. the prisoner's dilemma.
D. a Nash equilibrium.
Answer: D
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When the natural unemployment rate changes, what happens to the short-run Phillips curve? To the long-run Phillips curve?
What will be an ideal response?
In the open economy macroeconomic model, the price that balances supply and demand in the market for foreign-currency exchange model is the
a. nominal exchange rate. b. nominal interest rate. c. real exchange rate. d. real interest rate.
If a tax is progressive, the average tax rate
A. remains the same as income rises. B. rises as income rises. C. falls as income rises. D. falls with passage of time.
Wich of the following indiviuals can be counted as Unemployed?
What will be an ideal response?