The average duration of unemployment
A) decreases during recessions and increases during expansions.
B) increases during recessions and decreases during expansions.
C) does not vary with the business cycle.
D) decreases all the time.
E) increases all the time.
B
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The above table shows the market shares for all the landscaping services in a suburban area. The Herfindahl-Hirschman Index (HHI) equals
A) 65. B) 900. C) 1400. D) 1600.
A Nash equilibrium is a set of strategies that are mutual:
a. best responses. b. dominant strategies. c. Pareto optima. d. all of the above.
Given the payoffs in the matrix shown, Firm B:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. should always choose to collude, regardless of Firm A's actions.
B. should always choose to compete, regardless of Firm A's actions.
C. should compete if Firm A competes and collude if Firm A colludes.
D. should compete if Firm A colludes and collude if Firm A competes.
In the long run, the unemployment rate is independent of inflation, and the Phillips curve is vertical at the natural rate of unemployment.
Answer the following statement true (T) or false (F)