When a game has more than one Nash equilibrium,
a. at least one of them will be Pareto optimal.
b. they will all tend to be unstable.
c. they must provide the same total payoff to the players.
d. it is difficult to predict which of them will actually occur.
d. it is difficult to predict which of them will actually occur.
You might also like to view...
Describe how a Clarke tax is designed and explain how it leads a person to correctly reveal his preferences for a public good.
What will be an ideal response?
The consumer price index is used to
a. monitor changes in the level of wholesale prices in the economy. b. monitor changes in the cost of living over time. c. monitor changes in the level of real GDP over time. d. monitor changes in the stock market.
In the Keynesian model, consumption depends on:
A. the natural rate of unemployment. B. disposable income. C. potential output. D. whether the government has a budget surplus or deficit.
An increase in the value of the U.S. dollar relative to the Japanese yen will
A. increase aggregate demand in the United States. B. decrease aggregate supply in the United States. C. increase aggregate demand in Japan. D. increase aggregate supply in Japan.