Refer to Table 14-3. Is there a dominant strategy for Nigeria and, if so, what is it?
A) Yes, it has a dominant strategy depending on what Saudi Arabia does.
B) Yes, the dominant strategy is to produce a high output.
C) Yes, the dominant strategy is to produce a low output.
D) No, there is no dominant strategy.
B
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A permanent increase in the real wage rate has a ________ income effect on labor supply than a temporary increase in the real wage, so labor supply is ________ with a permanent wage increase than for a temporary wage increase
A) larger; more B) larger; less C) smaller; more D) smaller; less
The Molasses Act (1733)
a. aimed to decrease trade between the colonies and the French West Indies. b. was flaunted with impunity by the colonists. c. placed a high tariff on colonial imports of foreign sugar, molasses and rum. d. if enforced would have disrupted one of the major colonial trades. e. All of the above.