When there's uncertainty as to the length of a game
A) cooperation still does not occur, because cooperation unravels at the beginning of the game.
B) cooperation can potentially occur if trigger strategies are adopted.
C) firms will cooperate because they treat the game as one that is infinitely repeated.
D) firms will randomly pick among the Nash equilibria.
B
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Which of the following is not a reason why the prospects for the further expansion of developing country commodity exports are likely to be limited?
(a) Low income elasticities for these products. (b) Low likelihood of development of further synthetic substitutes. (c) Continued agricultural protection despite trade agreements. (d) Declining terms of trade.
Logrolling creates a political market and campaign donations are the medium of exchange
a. True b. False
If total cost is €500 when output is zero and €1,000 when output is 10 and €1400 when output is 20, then fixed cost is equal to:
(a) €1000. (b) €1400. (c) €900. (d) €500.
As the price level rises
a. people are more willing to lend, so interest rates rise. b. people are more willing to lend, so interest rates fall. c. people are less willing to lend, so interest rates fall. d. people are less willing to lend, so interest rates rise.