When Goodyear increases its production when Michelin reduces its production, Goodyear is playing a
A) negative-sum game.
B) cooperative game.
C) non-cooperative game.
D) reaction function game.
C
You might also like to view...
Official unemployment rate statistics may
A. understate the amount of unemployment by excluding part-time workers in the calculations. B. overstate the amount of unemployment by including part-time workers in the calculations. C. overstate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment. D. understate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment.
If Brenda's MPC is 0.8 at an income of $20,000 and her income increases to $40,000 at the same time everyone else's income doubled, according to Duesenberry's relative income hypothesis, her MPC will
a. fall to 0.4 b. rise to 0.9 c. rise to 1.0 d. remain at 0.8 e. double
One of the practical issues in the choice of government spending or taxes to change aggregate demand is how large a
A. change in demand we want. B. trade deficit we want. C. budget deficit we want. D. government sector we want.
Suppose a firm manager has a base salary of $75,000 and earns 1.5 percent of all profits. Determine the manager's income, if revenues are $10,000,000 and profits are $5,000,000.
A. $300,000 B. $225,000 C. $75,000 D. $150,000