Examlex
The supply curve for reserves is ________ when the federal funds rate is below the discount rate and ________ when the federal funds rate is above the discount rate.
Extensive Form
In game theory, a detailed representation of a game that includes the order of players' moves, their choices at every node, and the outcomes resulting from each combination of choices, displayed as a decision tree.
Simultaneous Game
A strategic situation where each player must make their decisions at the same time, without knowledge of the other players' choices.
Positive-Sum Game
A situation in which all participants can gain or benefit in some way, contrasting with a zero-sum game.
Zero-Sum Game
A situation in economics or game theory where one party's gain is precisely balanced by another party's loss.
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