A dominant strategy differs from a Nash equilibrium strategy in that
a. Nash equilibrium strategy does not assume best reply responses
b. dominant strategy assumes best reply responses
c. only Nash strategy applies to simultaneous games
d. one dominant strategy is sufficient to predict behavior in a multi-person game
e. Nash strategy is often unique
d
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Monopolistic competition differs from monopoly because in monopolistic competition
A) firms maximize profits. B) firms set marginal revenue equal to marginal cost to maximize profit. C) firms are free to enter and exit. D) All of the above are differences between monopoly and monopolistically competitive firms.
Developing new products and services as well as introducing new production methods are among the ways that ________ increases average labor productivity.
A. an entrepreneur B. physical capital C. human capital D. a manager
Public goods are
A) any goods or services produced by the government. B) provided to additional users at no additional cost. C) provided only by the capitalistic system. D) provided only by the communist system.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A