Using a commitment strategy in:
A. a simultaneous game can alter payoffs, but has no effect in sequential games.
B. a simultaneous game has no effect, but can alter the payoffs and outcome of sequential games.
C. either a simultaneous or sequential game has little impact on payoffs or outcome.
D. either a simultaneous or sequential game can greatly alter the payoffs and outcome of the game.
D. either a simultaneous or sequential game can greatly alter the payoffs and outcome of the game.
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The Federal Open Market Committee has responsibility for
A) advising the Treasury Department on monetary policy. B) printing money. C) issuing orders to buy or sell government securities for the Fed. D) appointing members to the Board of Governors of the Federal Reserve system.
Suppose you observed that at the same time employment increased, wages fell. Which of the following is a possible explanation for this observation?
a. An increase in labor demand b. A decrease in labor demand c. An increase in labor demand that was outpaced by an increase in labor supply d. A decrease in labor supply e. Cannot be determined from the available information
U.S. income data over the last 75 years suggests that the distribution of income
a. has gradually become more equal over the entire time period. b. has gradually become less equal over the entire time period. c. gradually became less equal until about 1970, then became more equal from 1970 to 2011. d. gradually became more equal until about 1970, then became less equal from 1970 to 2011.
A budget surplus can be used to cut taxes or pay off old debt.
Answer the following statement true (T) or false (F)