Nominal GDP in the United States was higher in 2012 than in 1950, but Real GDP was higher in 1950 than in 2012

Law of Supply and Demand

What will be an ideal response?

Refer to the game in Scenario 13.7. If each player chose a maximin strategy, the outcome would be

A) $69,000, $69,000. B) $0, -$1000. C) -$1000, $0. D) $0, $0. E) a mixed strategy equilibrium.