In the 1980s, the USA and the USSR negotiated a reduction in nuclear arms; this is an example of a
A) non-cooperative equilibrium.
B) cooperative outcome that may not be a Nash equilibrium.
C) cooperative outcome that was a Nash equilibrium.
D) sub-game perfect equilibrium.
B
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The independence axiom implies that if I prefer a bottle of wine over a six pack of beer I will prefer half a bottle of wine with a bag of pretzels over half a sixpack of beer with a bag of pretzels.
Answer the following statement true (T) or false (F)
An efficiency wage
A) is lower than the market wage and tends to decrease productivity. B) is higher than the market wage and tends to decrease productivity. C) is lower than the market wage and tends to increase productivity. D) is higher than the market wage and tends to increase productivity.
International trade is advantageous because trade makes it possible for people in each country to
a. import more than they export. b. export more than they import. c. employ more of their domestic resources producing things that are costly for them to produce domestically. d. acquire goods from foreigners more economically than they could be produced domestically. e. do all of the above.
The aggregate supply-aggregate demand model suggests that the government can stabilize an economy that experiences a sudden and unexpected decline in consumer confidence and aggregate demand by:
What will be an ideal response?