In mixed strategy Nash equilibria, players play each of two pure strategies with probability 0.5.
Answer the following statement true (T) or false (F)
False
Rationale: While that is possible, mixed strategy Nash equilibria can certainly have players play different pure strategies with probabilities other than 0.5.
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Transactions costs are:
A. the time and energy involved with creating an exchange. B. often cited as a reason why purchasing power parity doesn't hold. C. usually higher when transactions take place internationally. D. All of these statements are true.
Why was running a budget deficit to build the U.S. highway system in the 1950s a benefit to the country?
a. The costs of building the highway system were so small that they were considered irrelevant. b. There were benefits of increasing potential GDP, so the increased costs were not considered. c. The benefits of it increasing potential GDP were greater than the increased costs of borrowing for the deficit. d. The costs of building the highways system were greater than the benefits of building the highway system.
In the long run, foreign labor remains cheap when and if
a. it becomes highly efficient and competes successfully internationally. b. countries erect barriers to trade between poor countries. c. productivity increases more rapidly in poor countries than in rich countries. d. it remains inefficient compared to other countries' labor.
Interest rate increases lead to currency appreciation and increases in net exports
a. True b. False Indicate whether the statement is true or false