In contrast to the post-World War II period, before 1940 the government
a. actively intervened in the economy for stabilization purposes.
b. used aggregate demand management to avoid recessions.
c. rarely intervened in the economy to influence inflation or unemployment rates.
d. used government ownership to guarantee full employment.
c
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For a firm in monopolistic competition, the efficient scale is the amount of output at which ________ is a minimum
A) fixed cost B) average total cost C) average variable cost D) average fixed cost E) marginal cost
Refer to the scenario above. If the players have to pay a fairness penalty of $7,000, ________
A) this game will no longer have a Nash equilibrium B) this game will have two Nash equilibria C) Nash equilibrium will occur when Mathew chooses bad and Peter chooses good D) Nash equilibrium will occur when Mathew chooses good and Peter chooses bad