In a 2007 New York Times Article Paul Krugman Wrote

question 17

Multiple Choice

In a 2007 New York Times article Paul Krugman wrote that

• A)the infant-industry argument works well as an argument in favor of protection for the U.S.steel industry.
• B)the negative effects of third world exports on U.S.wages may be increasing.
• C)there are social gains to the U.S.from free trade.
• D)high wage countries account for a growing share of U.S.imports of manufactured goods.

---

Definitions:

Nash Equilibrium

A concept within game theory where no participant can gain by changing strategies if the other participants keep theirs unchanged.

Sequential Game

A game in game theory where players make decisions one after another, with each decision informed by the previous players' decisions.

Monopolized

Controlled entirely or to a large extent by a single entity, often referring to a market situation where one company dominates the supply of a particular product or service.

Simultaneous Game

A game theory model where all players make their decisions or moves at the same time without knowledge of the other players' choices.