In the simultaneous move labor negotiation game:
a. Neither party prefers bargaining hard in the Nash equilibrium
b. Both the parties want to end up in the least efficient outcome
c. Both parties bargain hard in the Nash equilibrium
d. Both parties want to stay in the prisoner's dilemma
c
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The quantity supplied of a good or service is the
A) quantity produced at one price. B) one quantity produced at a variety of prices. C) list of all quantities at different prices, as illustrated by a supply schedule and a supply curve. D) list of all quantities at different prices, as illustrated by a demand schedule and a demand curve.
Which of the following is not a characteristic of less-developed countries?
a. a focus on production of consumption goods b. low levels of investment in capital goods c. political instability d. a high percentage of the population under age 15 e. adequate infrastructure
Monetary policy is
A) the policy concerning changes in the money supply that is pursued to achieve particular macroeconomic goals. B) the expenditures and taxation policy that the government pursues to achieve particular macroeconomic goals. C) the investment policy that businesses pursue to achieve particular macroeconomic goals. D) the spending and saving policy that consumers pursue to achieve particular macroeconomic goals. E) the spending policy that the Treasury pursues to achieve particular macroeconomic goals.
The peak phase of the business cycle represents
A. a labor surplus. B. falling prices. C. an increase in foreign investment. D. a temporary maximum output level of Gross Domestic Product (GDP).