The Keynesian revolution
a. was an attack on the classical supply-determined, full-employment theory of output and employment.
b. attacked the quantity theory of money.
c. shared with the classical model the belief that prices and wages are perfectly flexible.
d. All of the above
e. both a and b.
E
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In the strategic view of bargaining:
a. Bargaining is described by an explicit game b. Insights are drawn from how many similar games are played without specifying the strategies c. We use the fact that bargaining often results in a fifty-fifty split d. It is important to limit your opponent's disagreement value
Vertical relationships can increase profits through
a. preventing firms from evading regulation b. creating a double-markup problem c. making the incentives of manufacturers and retailers unaligned d. facilitating price discrimination