All of the following are characteristics of the pure coordination game except
A) Nash equilibria exist at every outcome where players successfully coordinate.
B) each player has a dominant strategy.
C) the payoff for coordinating is higher than the payoff for not coordinating.
D) the two general outcomes are that the players either coordinate with each other or they do not.
B
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Macroeconomic models are
A) never wrong. B) accurate descriptions of the economy. C) simple abstractions of reality. D) consistent with all economic data.
Because monopolists are protected by high barriers to entry, they:
a. may be able to earn long-run economic profits. b. will not minimize the per-unit cost of producing their output. c. will price their product at the highest possible price. d. seek economic profit; however, they are not able to earn it in the long run.
If government debt is an external debt, the debt burden cannot be passed on to future generations
Indicate whether the statement is true or false
Which of the following is true of efficiency wages? a. It encourages workers to enroll in training programs. b. It creates less worker turnover
c. It reduces the marginal productivity of workers. d. It increases workers' demand for leisure.