What do structural reform policies emphasize?
What will be an ideal response?
Policies that focus on microeconomic level reforms, such as the privatization of government-owned enterprises, deregulation, and trade policy reform
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Answer the next question based on the following payoff matrix for two oligopolistic firms in which the numbers indicate the profit in thousands of dollars for a high-price or a low-price strategy. Firm X? High PriceLow PriceFirm YHigh priceA = $625A = $725??B = $625B = $475?Low priceA = $475A = $400??B = $725B = $400If both firms collude to maximize joint profits, the total profits for the two firms will be
A. $1,200,000. B. $1,500,000. C. $1,400,000. D. $1,250,000.
In the absence of a financial system, the two-period model without taxes predicts that
A) consumption is more volatile that output. B) consumption is as volatile as output. C) consumption is less volatile than output. D) We do not know.
In a grim-trigger strategy, a firm responds to underpricing by choosing a price so low that each firm makes zero economic profit.
Answer the following statement true (T) or false (F)
Answer the following question on the basis of the data given for two regions, East and West, of a hypothetical world. The nations have the production possibilities for units of food and clothing given below.
Refer to the data above. The mutually beneficial terms of trade will be:
A. Greater than 4 units of food for 1 unit of clothing
B. Between 4 and 5 units of food for 1 unit of clothing
C. Between 2 and 3 units of food for 1 unit of clothing
D. Less than 2 units of food for 1 unit of clothing