At a Nash equilibrium, each player in a game is said to be doing as well as he can given the actions of his competitor
a. True
b. False
Indicate whether the statement is true or false
True
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If velocity is constant and equal to 5, a $20 billion shift of the LM curve to the right will be produced by a __________ in the money supply
A) $100 billion increase B) $100 billion decrease C) $4 billion increase D) $4 billion decrease
If government imposes an excise tax on a good and the tax burden is borne equally by buyers and sellers, then
A) price elasticity of demand is unitary. B) price elasticity of supply is unitary. C) the absolute values of price elasticities of demand and supply are equal. D) None of the above
Refer to Scenario 14.4. Suppose that the price of the product rises to $5. Which of the following curves shifts?
A) MP curve B) MRP curve C) Supply of labor curve D) Marginal expenditure curve
The aggregate demand curve tells us equilibrium real GDP at any price level
a. True b. False