If everyone has a dominant strategy, there can be no mixed strategy equilibrium.
Answer the following statement true (T) or false (F)
True
Rationale: A dominant strategy is best regardless of what others do -- so one would never "mix" it with another strategy and have that mix be a best response to anything done by others.
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In markets with asymmetric information
A) moral hazard causes adverse selection which in turn causes asymmetric information. B) adverse selection causes moral hazard which in turn causes asymmetric information. C) asymmetric information causes moral hazard and then it causes adverse selection. D) asymmetric information causes adverse selection and then it causes moral hazard.
Which view of the macro economy suggests that the speed of adjustment for self-correction would be very quick?
A. Monetarism B. Mainstream economics C. Supply-side economics D. Rational expectations theory