In an assurance game, each Nash equilibria offer identical payouts to any particular player
Indicate whether the statement is true or false
FALSE
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The owners of the resource ________ are paid ________
A) land; wages B) labor; profit C) capital; rent D) capital; interest E) entrepreneurship; wages
One of the distinguishing characteristics of capital mobility today is that
A) there are far more kinds of financial instruments than there were 100 years ago. B) nations are no longer dependent on their own national savings for their investment funds. C) the bulk of foreign capital flows are tied to labor flows. D) foreign capital flows are better managed and rarely cause financial problems. E) currency markets play a less significant role than they did in the past.
In 2012, Ben Bernanke expressed which concern about persistently high unemployment?
A) It would result in high inflation. B) It would result in structural damage to the economy that would last for years. C) It would never decline to desired levels. D) It would cost him his job.
When a tariff is imposed, the supply curve for the imported good
A) shifts downward and to the right. B) shifts upward and to the left. C) does not change. D) becomes perfectly inelastic.