In the 1980s, the USA and the USSR negotiated a reduction in nuclear arms; this is an example of a
A) non-cooperative equilibrium.
B) cooperative outcome that may not be a Nash equilibrium.
C) cooperative outcome that was a Nash equilibrium.
D) sub-game perfect equilibrium.
B
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The idea that additional spending on research and development will produce additional knowledge that may further increase the productivity of capital is an argument used by some economists to claim that knowledge is subject to ________ returns
A) decreasing B) increasing C) constant D) negative
Which of the following was not true of the First and Second Banks of the United States?
a. They had branches throughout the country. b. They issued paper money. c. They made loans to private individuals. d. They set the bimetallic ratio.
When the dollar appreciates, U.S
a. net exports rise, which increases the aggregate quantity of goods and services demanded. b. net exports rise, which decreases the aggregate quantity of goods and services demanded. c. net exports fall, which increases the aggregate quantity of goods and services demanded. d. net exports fall, which decreases the aggregate quantity of goods and services demanded.
If production displays economies of scale, the long-run average cost curve is
A) above the short-run average total cost curve. B) downward sloping. C) upward sloping. D) below the long-run marginal cost curve.