Attempts by the government to reduce the rate of inflation often result in higher unemployment in the short run.
Answer the following statement true (T) or false (F)
True
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If firms execute a strategy that triggers a permanent punishment, the result in an indefinitely repeated game is
A) undefined. B) the non-cooperative Nash equilibrium. C) the collusive Nash equilibrium. D) economically inefficient.
Economists who study economic mobility have found that, if a father earns 20 percent above his generation's average income, his son will most likely earn
a. an income equal to his generation's average income. b. 8 percent above his generation's average income. c. 5 percent below his generation's average income. d. 3 percent above his generation's average income.
How have insights from the field of psychology influenced the thinking of economists in recent years?
Tariffs, quotas, and exports subsidies all increase domestic production.
Answer the following statement true (T) or false (F)