A dominant strategy
A) is one that a firm is forced into following by government policy.
B) involves colluding with rivals to maximize joint profits.
C) involves deciding what to do after all rivals have chosen their own strategies.
D) is one that is the best for a firm, no matter what strategies other firms use.
D
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Suppose that the central bank unexpectedly increases the growth rate of the money supply. In the short run the effects of this are shown by
a. moving to the left along the short-run Phillips curve. b. moving to the right along the short-run Phillips curve. c. shifting the short-run Phillips curve to the right. d. shifting the short-run Phillips curve to the left.
"Politics is too often the thing that gets in the way of good economic policy being implemented." The economist who said this most likely
A) believes that fiscal policy is preferable to monetary policy when it comes to stabilizing the economy. B) prefers discretionary monetary policy to rule-based monetary policy. C) believes that there will be a lot of crowding out if government spending is increased. D) prefers rule-based monetary policy to discretionary monetary policy.