Of the following types of games, tension between cooperation and individual self-interest tends to be greatest in
A) an assurance game.
B) a pure coordination game.
C) a chicken game.
D) a battle of the sexes game.
C
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An increase in the price level will shift the aggregate demand curve:
A) rightward. B) leftward. C) both. D) none of the above.
Predicting the impact of institutional change on the effectiveness of monetary policy is best done with a
A) structural model. B) reduced-form model. C) black-box model. D) scientific model.
Early Keynesians concluded that the quantity of money was not important because they assumed
a. low interest elasticity of money demand and high interest elasticity of the demand for output. b. high interest elasticity of money demand and low interest elasticity of the demand for output. c. high interest elasticity of money demand and high interest elasticity of the demand for output. d. both low interest elasticity of money demand and of the demand for output.
The effects of a higher than expected price level are shown by
a. shifting the short-run aggregate supply curve right. b. shifting the short-run aggregate supply curve left. c. moving to the right along a given aggregate supply curve. d. moving to the left along a given aggregate supply curve.