The Historical Record Suggests That

question 125

Multiple Choice

The historical record suggests that

• A)the Phillips curve is horizontal.
• B)once policy makers attempted to exploit a short-run Phillips curve trade-off, it disappeared.
• C)shifts in long-run aggregate supply do not affect real output.
• D)inflation rates are lowest when unemployment rates are also low.

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

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

Analyze the role of credible threats in achieving a Nash equilibrium in repeated games.

Evaluate the impact of first-mover advantages in sequential games.

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