Credibility in threats and commitments in sequential games is based on
a. randomizing one's actions so they are unpredictable
b. explicit communications with competitors
c. effective scenario planning
d. analyzing best reply responses
e. none of the above
d
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Refer to the Article Summary. Explain how the declining labor force could have led to the decrease in the unemployment rate
What will be an ideal response?
Although some tastes do change over time, economists believe that tastes are relatively stable. If tastes were not mostly stable, then we
a. could not even draw a supply curve b. could not reasonably make the other-things-constant assumption required for demand analysis c. would not have any concerns about still drawing demand curves d. could no longer eat food e. would be basing economic models on real life instead of making impossible assumptions
Which of the following would expand aggregate demand according to Keynesians, while stimulating aggregate supply according to modern supply-siders?
A. Increasing transfer payments B. Open-market purchases of Treasury bonds by the Fed C. Cutting the discount rate and reserve requirements on demand deposits D. Cutting personal and corporate marginal tax rates
One means of enforcing a quota is to require importers to ________.
A. obtain a license B. pay a sales tax C. obtain a sales permit D. pay an import tax