A situation in which each firm chooses the best strategy given the strategies chosen by other firms is called a

Suppose the Phillips curve is represented by the following equation: ?t - ?t-1 = 20 - 2ut. Given this information, we know that the natural rate of unemployment in this economy is

A) 10%. B) 20%. C) 6.5%. D) 5%. E) none of the above

The prisoner's dilemma is a game in which: a. the gains from pursuing self-interest are greater than the gains from cooperation

b. the gains from cooperation are greater than the gains from pursuing self-interest. c. the gains from pursuing self-interest are greater for a smaller firm than for a larger firm. d. the gains from pursuing self-interest are greater for a larger firm than for a smaller firm.