In order to protect key industries, some countries impose taxes on their exports instead of imports, mainly because it is easier to collect taxes from the export industry
a. True
b. False
Indicate whether the statement is true or false
False
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What is the Nash equilibrium of this simultaneous game?
a. Steal, Vigilant b. Steal, Not vigilant c. Not steal, Vigilant d. The game has no Nash equilibrium
If market supply decreases and, simultaneously, market demand increases, the new equilibrium will show:
a. market price will decrease, and market quantity exchanged will increase. b. market price will increase, and market quantity exchanged will decrease. c. market price will increase, and the quantity exchanged could increase, decrease, or remain the same. d. market price could increase, decrease, or remain the same, and quantity exchanged will increase. e. market price will increase, decrease, or remain the same, and quantity exchanged will decrease.