If both firms plan to be in business for 5 years, then the Nash Equilibrium will be
a. For each firm charge a LP every year
b. For neither firm to charge a LP in early years, but to charge a HP in later years.
c. For each firm to charge a HP every year
d. For neither firm to charge a HP in early years, but to charge a LP in later years.
a
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The monetary liabilities of the Federal Reserve include
A) securities and loans to financial institutions. B) currency in circulation and reserves. C) securities and reserves. D) currency in circulation and loans to financial institutions.
When government action is justified based on the argument that everyone agrees to be coerced _____
a. we cannot be sure that everyone is in favor of the action b. the same justification is true of market exchange c. we can be sure that the current state of affair is Pareto efficient d. the private interest becomes the public interest