A Nash bargaining solution
A) is not the same as a Nash equilibrium.
B) is derived from a Nash equilibrium.
C) gives a solution in both cooperative and non-cooperative games.
D) None of the above.
A
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Economic profits are: a. less than accounting profits if implicit costs are greater than zero. b. less than accounting profits even if implicit costs are zero
c. greater than accounting profits if implicit costs are greater than zero. d. greater than accounting profits even if implicit costs are zero.
If the marginal propensity to consume is 0.75 and the desired amount of increase in real GDP is $240 billion, then by how much would government spending have to increase?
a. $240 billion b. $80 billion c. $60 billion d. $30 billion
In 1998 the Russian government defaulted on its bonds. According to the open-economy macroeconomic model, this should have
a. increased Russian interest rates and net exports. b. reduced Russian interest rates and net exports. c. increased Russian interest rates and reduced Russian net exports. d. reduced Russian interest rates and increased Russian net exports.
Which of the following demonstrates how labor markets and markets for goods and services differ?
a. Whereas the goods and services market is affected by inflation, the labor market is not usually affected. b. Whereas the goods and services market dictates prices, the labor market does not always determine wages. c. Whereas the goods and services market is bolstered by an increase in demand, the labor market usually experiences a downturn. d. Whereas the goods and services market has an ideal equilibrium state, the labor market does not.