The job protection argument states that trade restrictions are needed to prevent the loss of jobS in domestic industries.
a. true
b. false
Answer: a. true
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One reason that it might be difficult for a player to determine his best strategy is that
A) he might have limited ability to calculate the possible outcomes. B) he is irrational. C) there is no pure strategy. D) there are multiple Nash equilibria.
“Peak pricing” can only work effectively if prices remain relatively low for scarce resources.
Answer the following statement true (T) or false (F)
The phrases "once in, always in" and "once in, always grows" aptly describe a criticism of the Keynesian policy prescription for
a. the self-correcting nature of the economy b. moderating aggregate output c. closing a recessionary gap with government spending d. the balanced budget multiplier e. closing an inflationary gap
The total utility of consuming two slices of pizza is
a. the extra satisfaction you get from consuming the second slice of pizza. b. the extra satisfaction you get from consuming the first slice of pizza. c. the total satisfaction you get from consuming the two slices of pizza. d. none of the above.