When one strategy is always the best for a player to choose, regardless of what other players do, it is called:
A. a dominant strategy.
B. a Nash equilibrium.
C. collusion.
D. the prisoner's dilemma.
A. a dominant strategy.
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Minimum wages are examples of
A) a price floor. B) a price ceiling. C) the rationing function of prices not working. D) government increasing the demand for certain products.
The decline in the US manufacturing sector was the result of:
a. increasing productivity in the manufacturing sector. b. the increasing ability of consumers to purchase foreign manufactured goods more cheaply. c. faster growth of the service sector. d. All of the above are correct. e. Only b and c are correct.
Traditional monetarists advocate for a rule for _____________ , while market monetarists argue that monetary policy should focus on a ______________________
A) nominal GDP target; money supply growth B) Real GDP target; nominal GDP target C) money supply growth; Real GDP target D) money supply growth; nominal GDP target
M1 is:
A. less useful than M2 for understanding inflation. B. the money supply the Federal Reserve pays the most attention to in conducting monetary policy. C. the fastest growing of all of the money aggregates. D. a more useful measure of the relationship between the money supply and inflation because it includes the most liquid assets.