An economist is most likely to favor discretionary aggregate demand policies, rather than a policy rule, if he or she is in which economic tradition?

What are the five steps by which economists arrive at a useful economic model?

What will be an ideal response?

Which of the following is true about a differentiated-product Bertrand duopoly?

A. Firm 1 and firm 2's reaction functions are downward sloping. B. Firm 1 and firm 2's reaction functions are upward sloping. C. In a differentiated-product Bertrand duopoly neither firm has a reaction function. D. Firm 1's reaction function is downward sloping but firm 2's reaction function is upward sloping.