A subgame-perfect equilibrium:
a. is not a Nash equilibrium; it is a refinement of Nash equilibrium.
b. is an equilibrium concept used in simultaneous games.
c. is a special sort of Nash equilibrium.
d. can be ruled out using backward induction.
c
Economics
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A tariff can best be described as
A. an excise tax on an imported good. B. an excise tax on an exported good. C. a government payment to domestic producers to enable them to sell competitively in world markets. D. a law that sets a limit on the amount of a good that can be imported.
Economics
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
Economics