A dominant strategy is a strategy that a player should take only if the other player cheats.
a. true
b. false
Ans: b. false
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Of the $3 per pizza tax illustrated in the above figure, the
A) consumers pay $2 of the $3 per pizza tax. B) sellers pay $1 of the $3 per pizza tax. C) government collects $120 thousand in revenue from the pizza tax. D) All of the above answers are correct.
The order of integration
A) can never be zero. B) is the number of times that the series needs to be differenced for it to be stationary. C) is the value of ?1 in the quasi difference(?Yt - ?1Yt-1). D) depends on the number of lags in the VAR specification.
The GDP deflator does not differ from the CPI in its measurement of inflation in that it:
A. measures the price changes of all goods, not just those in a typical consumer's basket. B. uses the total quantities that are produced, not the ratio of what a typical consumer might consume. C. does not include imports, which may have a real effect on the typical consumer's cost of living. D. is the most widely used measure of price level changes for goods and services for consumers.
In the long run, the economy is better off if policymakers exploit the short-run trad-eoff between inflation and the unemployment rate
a. True b. False Indicate whether the statement is true or false