In the game in Scenario 13.5,
A) there is one equilibrium: for both to expand West.
B) there is one equilibrium: for both to expand South.
C) there are two equilibria: either can expand in the West, and the other expands in the South.
D) there is only a mixed strategies equilibrium.
E) all four outcomes are equilibria.
C
Economics
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A) real interest rates are at zero. B) real interest rates are at or just above zero. C) nominal interest rates are at zero. D) nominal interest rates are at or just above zero.
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The income that people earn in resource or factor markets is called:
a. disposable personal income. b. transfer payments. c. national income. d. personal income.
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