Which of the following situations is likely to generate noncooperative behavior in repeated games?
A) The game is repeated a finite number of times.
B) There are many players in the game.
C) The payoffs can change rapidly from one game period to the next.
D) All of these situations can generate noncooperative behavior.
D
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When the change in unplanned inventories is positive, then
A) planned inventories will increase in order to return to equilibrium. B) real GDP is less than aggregate planned expenditure. C) real GDP equals aggregate planned expenditure. D) real GDP is larger than aggregate planned expenditure. E) economic growth will occur as the economy returns to equilibrium.
In an open economy (as compared to a closed one, without international trade)
A. monetary policy is weaker, fiscal policy is more powerful B. fiscal policy is weaker, monetary policy is more powerful C. both monetary and fiscal policy are more powerful D. both monetary and fiscal policy are weaker