Reaching a Nash equilibrium means that:
A. the outcome will be positive-positive.
B. a cooperative equilibrium has been reached.
C. the players have reached a stable outcome where neither would wish to change his strategy once he finds out what the other player is doing.
D. the players have failed to reach a stable outcome because one player will always wish to change his strategy once he finds out what the other player is doing.
C. the players have reached a stable outcome where neither would wish to change his strategy once he finds out what the other player is doing.
You might also like to view...
In financial markets, buyers are people who:
A. want to spend money on something of value right now, but don't have cash on hand. B. have cash on hand and are willing to let others use it, for a price. C. want to spend money on something of big value in the future, but don't know how to save for it. D. have cash promised to them at some future date.
A monopoly's
a. supply curve is the same as its marginal cost curve b. supply curve is the same as its marginal revenue curve c. marginal cost curve is downward sloping d. demand curve is horizontal e. marginal revenue curve is downward sloping
If policy makers do nothing in response to an inflationary gap, what will happen?
a. a rapid movement toward lower unemployment and higher inflation b. a rapid movement toward lower unemployment and lower inflation c. a slow movement toward higher unemployment and higher inflation d. a slow movement toward lower unemployment and lower inflation
The division of variables into real and nominal is a dichotomy assumed by
a. classical economists. b. John Maynard Keynes. c. the wealth effect. d. short-run macroeconomic theory.