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Author Question: Explain what is meant by the term coordination failure and provide an example. What will be an ... (Read 96 times)

HCHenry

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on: Jun 30, 2018
Explain what is meant by the term coordination failure and provide an example.
 
  What will be an ideal response?

Question 2

If a country adopts another country's currency, it is called
 
  A) dollarization.
  B) a crawling peg.
  C) a dirty float.
  D) monetary order.


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choc0chan

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Reply #1 on: Jun 30, 2018
Answer to Question 1

This is a state of affairs in which agents are unable to coordinate their efforts, and hence end up in an equilibrium that leaves them worse off than they would be if they were able to coordinate. There are several examples offered in the text, or the students may come up with their own.

Answer to Question 2

A


HCHenry

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Reply #2 on: Jun 30, 2018
Thank you :)


choc0chan

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Reply #3 on: Jun 30, 2018
Happy to help you


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