A non-collusive duopoly is an example of:
a. a prisoner's dilemma.
b. a zero-sum game
c. a dominant strategy.
d. a redundant strategy.
b
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China linked its exchange rate to the U.S. dollar which meant in the 2004-2007 period
A) it appreciated against most other currencies, hurting its manufacturing competitiveness. B) it depreciated against most other currencies, making its products cheaper. C) it decreased the size of its merchandise trade surplus. D) it overvalued its currency, making it hard to attract foreign investment.
Suppose the economy is producing at the natural rate of output. An open market sale of bonds by the Fed will cause ________ in real GDP in the long run and ________ in inflation in the long run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
A . Explain why government payments to farmers are larger under a target price system than under the parity price system. b. Explain how the government can qualify a target price program to moderate the size of its deficiency payments
A person who lives in a good-climate city says, "It's expensive to live here, but at least the climate is free." In terms of a theory advanced in the textbook, this person has either forgotten or is unaware that
A) New York City is not a good-climate city and it is expensive to live there. In other words, not all good-climate cities are expensive and not all bad-climate cities are cheap. B) part of the reason it's expensive to live in the city is because of the good climate. C) good-climate cities have more outdoor entertainment entities and activities and therefore people have to pay higher taxes to support those entities and activities. D) there is a sunshine tax in most of the country - the more hours of sunshine a day, the higher the tax. E) none of the above