When oligopolistic companies engage in collusion, the companies are involved in a
A) noncooperative game.
B) negative-sum game.
C) competitive game.
D) cooperative game.
Answer: D
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When unemployment is below its natural rate, the inflation rate will eventually
A) move to its natural rate. B) decrease. C) become equal to the natural rate of unemployment. D) increase.
Free goods are usually efficiently allocated without government intervention
a. True b. False Indicate whether the statement is true or false
Economists are:
A) concerned with developing theories and interested in solving problems. B) interested in solving problems but not concerned with developing theories. C) reluctant to predict changes in variables such as prices, employment, and spending. D) always in agreement on the best way to implement policy decisions.
Who is hurt and who benefits from inflation? Why?
What will be an ideal response?