Which of the following conditions are necessary for the existence of a Nash equilibrium?
A. The existence of a dominant strategy for one player and the existence of a secure strategy for another player.
B. The existence of dominant strategies for both players.
C. The existence of a secure strategy for both players.
D. None of the answers is correct.
Answer: D
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Increased production, but not increased inflation, will result in higher:
a. nominal GDP. b. real GDP. c. current dollar GDP. d. money GDP.
QN=80 (17799) The economy's inflation rate is the
a. price level in the current period. b. absolute change in the price level from the previous period. c. change in the gross domestic product from the previous period. d. percentage change in the price level from the previous period.
To remedy unfairness in the distribution of income, many Americans look to all of the following except:
A. regressive taxes. B. social welfare programs. C. affirmative action laws. D. comparable worth laws.
Using the Taylor rule, if inflation is 3 percent, desired inflation is 2 percent, and output is 2 percentage points above potential, the Fed should target a federal funds rate of:
A. 3.5. B. 4.5. C. 6.5. D. 3.0.