In repeated games:
A. players no longer need commitment strategies to reach a mutually beneficial equilibrium.
B. negative-negative outcomes are the only outcomes possible.
C. players will never reach a mutually beneficial equilibrium.
D. there are no dominant strategies.
Answer: A
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Specialization and exchange result from differences in productivity that lead to
A) self-sufficiency. B) comparative advantage. C) absolute advantage. D) opportunity cost.
The assumption of variable velocity translates to, in IS-LM analysis, __________ curves
A) downward sloping IS B) vertical IS C) upward sloping LM D) vertical LM
Use the following figure to answer the next question. 
The economy is at equilibrium at point A. What fiscal policy would be most appropriate to control demand-pull inflation?
A. Shift aggregate demand by increasing government purchases. B. Shift aggregate supply by increasing taxes. C. Shift aggregate demand by decreasing taxes. D. Shift aggregate demand by increasing taxes.
According to the contestable market model, if there are no barriers to entry or exit, the price an oligopolist sets will provide no economic profits in the long run.
Answer the following statement true (T) or false (F)