In a game of bargaining, those who _______________ will likely get the highest payoff.
A. are patient
B. are cooperative
C. have a commitment strategy
D. collude
A. are patient
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How does the break-even inflation rate differ from the expected inflation rate as measured in surveys?
A) They are very close to each other. B) The break-even inflation rate varies less than the expected inflation rate from surveys. C) The break-even inflation rate varies more than the expected inflation rate from surveys. D) The break-even inflation rate is always several percentage points higher than the expected inflation rate from surveys.
The novelty of Phillips' article was his finding of a ____ correlation between ____ and ____
a. positive; unemployment; the interest rate b. negative; inflation; the exchange rate c. negative; unemployment; inflation d. positive; the rate of growth of the money supply; inflation
The chain-reaction game
A. was cancelled on network TV. B. counts secondary benefits without counting secondary costs. C. compounds a bad decision by making more bad decisions, causing unwanted projects to get funded. D. is double-counting of benefits.
A good example of a monopolistic competitive industry is
A. the restaurant industry. B. the local cable industry. C. the public utility industry. D. diamond mining.