A version of the battle of the sexes game that results in disaster if each player plays his or her tough strategy is called
A) a prisoner's dilemma game.
B) a chicken game.
C) an assurance game.
D) a pure coordination game.
B
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The job loss rate
A) equals 1 minus the job finding rate. B) remains constant over the business cycle. C) rises in recessions. D) rises in expansions.
An upward-sloping line or curve is used to illustrate:
a. a direct relationship. b. an inverse relationship. c. two unrelated variables. d. the ceteris paribus assumption.
Which of the following do economists not generally regard as a legitimate reason for the government to intervene in a market?
a. to promote efficiency b. to promote equality c. to enforce property rights d. to protect an industry from foreign competition
A program to reduce inflation is likely to have higher costs if the sacrifice ratio is
a. high and the reduction is unexpected. b. high and the reduction is expected. c. low and the reduction is unexpected. d. low and the reduction is expected.