Game Theory

question 47

Multiple Choice

Game theory

• A)is the analysis of how people (or firms)behave in strategic situations.
• B)is best suited for analyzing purely competitive markets.
• C)reveals that mergers between rival firms are self-defeating.
• D)reveals that price-fixing among firms reduces profits.

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Definitions:

Unfair Labor Practices

Actions by employers or unions that violate workers' rights or the laws governing labor relations.

Wagner Act

A foundational U.S. law enacted in 1935 to protect workers' rights to organize and to promote collective bargaining.

Secondary Boycott

A form of protest where a group (usually a labor union) refuses to do business with or work for other companies that are associated with the primary target of a labor dispute, but not directly involved in it.

Taft-Hartley Act

A 1947 United States federal law that restricts the activities and power of labor unions.