Which statement is true of the Battle of the Sexes game?
a. It is a coordination game.
b. The mixed-strategy Nash equilibrium provides players with lower expected payoffs than other equilibria.
c. The first mover has an advantage in the sequential version.
d. All of the above.
d
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An economic study concludes that an investment tax credit would increase business investment next year. This is an example of: a. normative analysis
b. positive analysis. c. negative economic analysis. d. the fallacy of composition.
Which of the following are not included in the M1 definition of the money supply?
a. cash and currency b. checkable deposits c. money market deposit accounts d. All of the above are included.
The phenomenon that describes how transfer programs, which significantly reduce the adversities of poverty, also reduce the opportunity cost of choices that often lead to poverty is known as
a. the implicit marginal tax rate. b. Gibson's paradox. c. the Phillips curve d. the Samaritan's dilemma.
Other things the same, an increase in the price level induces people to hold
a. less money, so they lend less, and the interest rate rises. b. less money, so they lend more, and the interest rate falls. c. more money, so they lend more, and the interest rate falls. d. more money, so they lend less, and the interest rate rises.