When there is no Equilibrium (or no Nash Equilibrium), we expect that:
a. the firms end up in the cooperative strategy.
b. a firm will follow a randomized strategy.
c. a firm will not care what it does.
d. a firm will very likely have a dominant strategy.
b
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If tax rates in a country increase, ________
A) the unemployment rate in the country will fall B) the gross domestic product of the country will decrease C) the country's expenditure on consumption will increase D) the aggregate price level of the country will rise
The issuer of a bond is a lender.
Answer the following statement true (T) or false (F)
An increase in the U.S. interest rate will most likely
A) reduce the attractiveness of investment in the United States. B) lead to a decrease in the value of the U.S. dollar. C) lead to an inflow of funds to the United States and an appreciation of the dollar. D) provide a stimulus to U.S. export industries.
According to Thomas Malthus, the human race is doomed to suffer repeated famines and wars because
a. population and food supply both increase arithmetically b. population and food supply both increase geometrically c. population increases arithmetically while food supply increases geometrically d. population increases geometrically while food supply increases arithmetically e. population increases exponentially while food supply increases geometrically