In a two-player simultaneous game where neither player has a dominant strategy,
A) there is never a Nash equilibrium.
B) there is only one Nash equilibrium.
C) the actual outcome is unpredictable.
D) the actual outcome will not be a Nash equilibrium.
C
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The PIH and LCH theories ________ the case for activism, while the procyclical behavior of consumer spending for durable goods ________ the case for activism
A) supports; supports B) supports; does not support C) do not support; does not support D) do not support; supports
Which of the following statements would be represented by a backward-bending labor supply curve?
a. A $50,000-a-year professor works more hours than a $20,000-a-year professor. b. The CEO of a major computer manufacturer works more hours than the union workers. c. The owners of a successful business work fewer days than do their employees. d. Hospital janitors work fewer hours than does the chief of obstetrics. e. High-ranking executives are more likely to work past 5:00 p.m. than are middle managers.
Suppose there are only two countries in the world, Mexico and the United States. In the foreign exchange market, it follows that the
A) demand for pesos is linked to the demand for dollars. B) demand for pesos is linked to the supply of pesos. C) supply of pesos is linked to the demand for dollars D) supply of pesos is linked to the supply of dollars. E) none of the above
The business cycle is so named because upswings and downswings in business activity are equal in terms of duration and intensity.
Answer the following statement true (T) or false (F)