The conditions that will always identify a Nash equilibrium include:
a. subjectively getting into the mind of one's opponent
b. a reflexive assessment of the best reply responses
c. a prospective condition of improvement
d. a through c
e. b and c only
e
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An argument against the use of tariffs to keep out the production of "cheap" foreign labor is that:
A) wage rates and labor productivity are directly related. B) product prices and labor costs are unrelated. C) there is no significant relationship between labor productivity and wage levels. D) they don't work.
Which of the following is a fiscal policy that would increase aggregate demand in the Keynesian model?
a) a decrease in personal income taxes b) a decrease in government spending c) an increase in corporate income taxes d) a purchase of government bonds by the federal reserve e) a sale of government bonds by the federal reserve