Which of the following statements is true?
A. Nash equilibrium exist only in games with dominant strategies.
B. Dominant strategies do not exist in repeated games.
C. Collusive agreements will always break down in repeated games.
D. Games with a known ending date undermine reciprocity strategies.
D. Games with a known ending date undermine reciprocity strategies.
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If the nominal interest rate is less than the real interest rate, we know that
A) both the nominal or real interest rate must be negative. B) the nominal interest rate must be equal to expected inflation. C) expected deflation must be occurring. D) expected inflation must be positive. E) expected inflation must be zero.
Which of the following is true?
a. Taxes and transfers generally increase the income share of the bottom quintile of income recipients, while reducing the share of the top group of earners. b. In a market economy, the distribution of income is determined by the quantity and value of the resources supplied by the various individuals, and nearly half the value of resources owned by the rich was inherited. c. Between 1980 and 2009, the income share received by the highest quintile of earners fell, while the share received by the bottom quintile of earners rose. d. All of the above are true.