Fiscal policy deals with
a. interest rates.
b. the money supply.
c. the government budget.
d. bank credit.
c. the government budget.
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Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome under monopoly
What will be an ideal response?
Stagflation results from continued decreases in aggregate demand
a. True b. False Indicate whether the statement is true or false
A dominant strategy is one:
A. in which a player must choose, even though it does not optimize his outcome. B. that is the best one to follow, no matter what strategy other players choose. C. in which a player is forced to choose given the rules of the game. D. provides a player with the highest payoff in the game.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.