Refer to the payoff matrix below.Player 1Player 2??t1t2t3?S120,015,15,-100?S220,20010,05,-50The dominant strategy of Player 1 is:
A. S2.
B. S1 and S2.
C. S1.
D. A dominant strategy does not exist.
Answer: C
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Refer to the above figure. Which point or points represent(s) a short-run equilibrium?
A) A only B) B only C) C only D) both A and B
Currency includes
a. paper bills and coins. b. demand deposits. c. credit cards. d. Both (a) and (b) are correct.
When the Fed lowers the target rate of interest for federal funds, it
A) buys government bonds. B) lowers the discount rate. C) sells government bonds. D) lowers the required reserve ratio.
Refer to the diagram. An industrial (inclusive) union could increase employment in this labor market:
A. by negotiating any wage rate between W 1 and W 4 .
B. by negotiating a wage rate greater than W 4 .
C. only if it accepted a wage rate below W 1 .
D. only if it could shift the labor demand curve rightward.