In Only One of the Following Situations Is a Nation's

question 80

Multiple Choice

In only one of the following situations is a nation's standard of living certain to increase.Which one?

• A) Real GDP rises faster than population.
• B) Real GDP rises faster than the price level.
• C) Real GDP rises.
• D) Real GDP rises faster than the number of people employed.
• E) Real GDP rises faster than the number of people unemployed.

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Definitions:

Dominant Strategy

A strategy that is the best for a player in a game regardless of the strategies chosen by other players.

Nash Equilibria

An idea in game theory that states a player cannot gain an advantage by altering their strategy while others maintain theirs.

Maximin Strategy

In decision-making, a strategy that maximizes the minimum gain that can be achieved, often used under conditions of uncertainty to minimize possible losses.

Dominant Strategy

In game theory, a strategy that is best for a player regardless of the strategies chosen by other players.