Using Real GDP and Employment Growth Relative to the Peak

question 1

Multiple Choice

Using real GDP and employment growth relative to the peak of the business cycle,the 2007-2009 recession,as compared to the previous two recessions in 1990 and 2001:

• A) was deeper.
• B) was less severe.
• C) was shorter.
• D) was shorter but more severe.

Grasp the meaning and conditions for a player having a dominant strategy in game scenarios.

Recognize the existence and characteristics of negative-sum games and the incentives for players.

Identify the conditions under which Nash equilibrium occurs in game theory.

Understand how repeated and sequential games differ and their implications for game strategies.