What would be the Nash equilibrium of this game?
a. Bargain hard, bargain hard
b. Firm bargains hard, union accommodates
c. Union bargains hard, firm accommodates
d. Both B&C
d
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Using expansionary policies to combat a recession would
A) decrease discretionary spending. B) increase federal revenue. C) increase a budget surplus. D) increase a budget deficit.
Gross domestic product
A) includes all the goods and none of the services produced in an economy in a given time period. B) measures the value of the aggregate production of goods and services in a country during a given time period. C) measures the value of labor payments generated in an economy in a given time period. D) is generally less than federal expenditure in any time period.
Which of the following is a method used by unions to increase the demand for their members' labor?
A) Support import restrictions. B) Decrease the marginal product of union members. C) Oppose immigration restrictions. D) Oppose minimum wage laws.
Depository institutions are the most important source of credit to
A) mutual funds. B) large businesses. C) small businesses. D) state governments.