Suppose households unexpectedly decrease consumption. Which of the following will occur as a result of this unexpected reduction in consumption?

Refer to the game in Scenario 13.6. What will occur if ERS Co plays a maximin strategy?

A) -$100, -$1 B) $2, -$0.5 C) $1, -$1 D) -$0.5, -$0.5 E) There is a 0.25 chance of each outcome in that case.

Which type of restriction on quantity of imports is the most transparent?

A) Quota B) Licensing requirements C) Voluntary export restraints D) Government procurement policies