In a non-cooperative, imperfect information, simultaneous-choice, one-period game, a Nash equilibrium
A) will never exist.
B) will always include dominant strategies.
C) will always result in both players taking the same action.
D) may not maximize the sum of the firms' profits.
D
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A decrease in the real interest rate leads to a ________ the demand for loanable funds curve, and a decrease in the expected profit leads to a ________ the demand for loanable funds curve
A) rightward shift in; leftward shift in B) movement down along; movement up along C) rightward shift in; movement up along D) movement down along; leftward shift in
If the supply curve for aspirin is perfectly elastic, a reduction in demand will cause the equilibrium price to: a. rise and the equilibrium quantity to fall
b. rise and the equilibrium quantity to stay the same. c. fall and the equilibrium quantity to fall. d. stay the same and the equilibrium quantity to fall.
The book that is the basis for modern macroeconomic theory is
a. The Wealth of Nations. b. Principles of Political Economy. c. The General History of Money and Banking. d. The General Theory of Employment, Interest, and Money.
Which of these assumptions is often realistic for a firm in the short run?
a. The firm can vary both the size of its factory and the number of workers it employs. b. The firm can vary the size of its factory but not the number of workers it employs. c. The firm can vary the number of workers it employs but not the size of its factory. d. The firm can vary neither the size of its factory nor the number of workers it employs.