In a repeated game, punishments that result in heavy damages are an incentive for players to adopt the strategies that result in a ________ equilibrium

Equal increases in government purchases and in net taxes have equal but opposite effects on the level of real GDP demanded

a. True b. False Indicate whether the statement is true or false

Buyers and sellers neglect the external effects of their actions when deciding how much to demand or supply

a. True b. False Indicate whether the statement is true or false