Private goods are
A. rival in consumption, and their benefits are nonexcludable.
B. rival in consumption, and their benefits are excludable.
C. nonrival in consumption, and their benefits are nonexcludable.
D. nonrival in consumption, and their benefits are excludable.
Answer: B
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As a result of the Fed's unconventional purchase of over $1 trillion of mortgage-backed securities in 2009, interest rates on both mortgage-backed securities and home mortgages increased
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. The Battle of the Sexes game has two Nash equilibria, neither of which is Pareto optimal. 2. All outcomes in the Copycat Game are Nash equilibria. 3. A solution concept is any way of analyzing a game which leads to the discovery of a Nash equilibrium which solves the game. 4. The concept of Nash Equilibrium is an important solution concept because it helps make predictions. 5. When a game has more than one Nash equilibrium, it is unlikely that a stable equilibrium will ever be reached.