In a pure coordination game, Nash equilibria exist at every outcome where the players successfully coordinate
Indicate whether the statement is true or false
TRUE
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Fed Chairman Alan Greenspan managed to keep the rate of inflation low as the economy was growing at a brisk pace by setting and hitting low money supply growth rate targets
Indicate whether the statement is true or false
Under a perfectly price discriminating monopolist, each consumer consumes ________ a perfectly competitive market.
A. the same amount of output as they would under a non-discriminating monopolist as well as B. less output than they would under an imperfectly price discriminating monopolist, but more than under C. more output than they would under an imperfectly price discriminating monopolist, but less than under D. the same amount of output as they would under
The development of market power by a firm is considered to be a market failure because firms with market power will
A. Produce more and charge a lower price than what would be socially optimal. B. Not respond to consumer demand. C. Tend to ignore external costs. D. Produce less and charge a higher price than what would be socially optimal.
While money is an asset not all assets are money because:
A. only money is a good asset to hold during times of inflation. B. money must be legal tender. C. only money stores value. D. money works as a means of payment.