Refer to the scenario above. Suppose a new legislative policy decreases the fine for speeding to $50. A reduction in the fine to $50:
A) makes it profitable for you to bribe.
B) makes it profitable for Joe to bribe.
C) changes the outcome of the game.
D) will not change your dominant strategy.
D
Economics
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If workers and firms raise their inflation expectations
A) unemployment will fall. B) the short-run Phillips curve will be vertical. C) actual inflation will fall to match expected inflation. D) the short-run Phillips curve will shift upward.
Economics
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.
Economics