When a bargaining solution is reached
A) each player receives a net surplus greater than or equal to zero.
B) we have a Nash equilibrium.
C) the sum of the net surpluses is the Nash product.
D) Both A and C.
A
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All of the following are possible private-sector adjustments to an increase in the government's budget deficit except
A) increasing private savings. B) decreasing investment. C) decreasing expenditures on transfer programs. D) increasing the trade deficit by increasing imports and/or decreasing exports.
The legislature is at a bargaining disadvantage because it receives most, if not all, of its information about the bureaucracy from the bureaucracy
a. True b. False
When a firm prices its goods below the marginal cost to drive away competitors, it is referred as
A) price skimming. B) limit pricing. C) penetration pricing. D) predatory pricing.
Which of the following is not a question that scarcity forces all societies to answer?
a. Which goods and services are to be produced? b. How are goods and services to be produced? c. Who will get the goods and services produced? d. How can scarcity be eliminated?