Which is true of output-choice models of oligopoly behavior?
A) Both the Stackelberg and Cournot models can be constructed as sequential games.
B) The Stackelberg, but not the Cournot, model can be constructed as a sequential game.
C) The Cournot, but not the Stackelberg, model can be constructed as a sequential game.
D) Neither the Cournot nor the Stackelberg model can be constructed as a sequential game, but other output-choice models can be.
E) There is no relationship between any output-choice model and sequential games.
B
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The equation, ?Y/Y = ?A/A + aK?K/K + aN?N/N, is known as
A) the production function. B) the Solow model. C) the productivity formula. D) the growth accounting equation.
If the Fed increases the real interest rate as a response to a decrease in the inflation rate, the ________, which results in a ________
A) MP curve shifts up; movement down the AD curve B) MP curve shifts up; movement up the AD curve C) IS curve shifts up; movement down the AD curve D) IS curve shifts up; movement up the AD curve