The figure below presents information for a one-shot game.Firm AFirm B??Low PriceHigh Price?Low Price(2,2)(10,-8)?High Price(-8,10)(6,6)If this one-shot game is repeated 100 times, the Nash equilibrium payoffs of the players will be ________ each period.
A. (6, 6)
B. (2, 2)
C. (?8, 10)
D. (10, ?8)
Answer: B
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When an economy is experiencing a negative output gap, it means that the:
A. actual output is less than their potential output. B. actual output is more than their potential output. C. price level is rising. D. price level is falling.
Workers are generally in a better position to protect themselves from inflation in comparison to retired persons because workers' incomes
a. are more likely to be fixed. b. are more likely to be variable. c. always rise during inflation. d. are guaranteed by the federal government.
Human capital is:
A. the talents, training, and education of workers. B. the financial resources available to humans for investment. C. the factories and machinery used by humans in the production process. D. the factories and machinery made by workers.
Refer to the following nonlinear model which relates W to P, Q, and R:W = aPbQcRdThe computer output form the regression analysis is: Based on the info above, the estimated value of a is
A. 2.66 B. 12.182 C. 0.916 D. 2.50