In a prisoner's dilemma, the Nash Equilibrium might not have a dominant strategy for either player
a. True
b. False
Indicate whether the statement is true or false
False
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Factor mobility refers to
A. Technological change in the use of capital. B. Technological change in the use of labor. C. The ease of reallocating resources. D. The increase in labor productivity.
Which of the following is NOT a reason why real GDP can be expanded beyond a level consistent with its long-run growth path in modern Keynesian analysis?
A) Higher prices induce firms to hire more workers. B) The existing capital stock can be used more intensively. C) Prices and wages are flexible, allowing for needed adjustments. D) In the short run, existing workers can work more hours.
A cut in government spending will cause a(n) _________ in aggregate demand, and a decrease in the discount rate will cause a(n) _______ in aggregate demand.
a) increase; decrease b) increase; increase c) decrease; decrease d) decrease; increase e) none of the above
Those that believe that the recent period of slow growth will pass and that higher levels of growth can be anticipated
A. believe we have to get used to slower growth and hope for the best. B. have blind faith and not much else. C. believe that the causes of older growth (increases in the labor force participation rate and the use of energy to replace people power) are still available. D. believe we are on the cusp of a period of new (artificial intelligence-based) innovations.