What is the core of a negotiation involving many parties?
The core of a multi-player game is the set of non-blockable allocations, in which no subset of the players can make more for themselves by withdrawing. The core of a two-person exchange model contains all allocations of money and the good that make both parties better off after trade.
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Refer to Scenario 6.1. The dominant strategy is for Tasha to work ________ and for Gloria to work ________
A) extremely hard; extremely hard B) extremely hard; somewhat hard C) somewhat hard; extremely hard D) somewhat hard; somewhat hard
The table above gives data for the nation of Pearl, a small island in the South Pacific. If aggregate demand increases so that the quantity of real GDP demanded is $6 billion more at each price level, the new equilibrium real GDP is
A) $34 billion. B) $31 billion. C) $28 billion. D) $25 billion. E) $23 billion.
When the demand for money becomes less responsive to changes in income, the LM curve becomes ________ and it also shifts to the ________
A) flatter, left B) flatter, right C) steeper, left D) steeper, right
Suppose that monetary neutrality and the Fisher effect both hold. An increase in the money supply growth rate increases
a. the inflation rate and growth of real GDP. b. the inflation rate but not the growth rate of real GDP. c. the growth rate of real GDP, but not the inflation rate. d. neither the inflation rate nor the growth rate of real GDP.