The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital.
Firm A's dominant strategy is to ________, and Firm B's dominant strategy is to ________.
A. not invest; not invest
B. not invest; invest
C. invest; invest
D. invest; not invest
Answer: C
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Following the tariff imposed on Chinese tires, some businesspeople correctly argued that the U.S. tariff would result in
A) China retaliating by raising tariffs on some U.S. exports. B) China halting the sale of all products in the United States. C) U.S. firms never being able to meet the demand for U.S.-produced tires. D) the government demanding price cuts from U.S. tire manufacturers.
Refer to the scenario above. What will be the difference in the GDP per capita of both countries at the beginning of year 2012?
A) $30.39 B) $99.84 C) $8.99 D) $339.69
One trend in labor markets is:
A. weak rates of job creation in the United States since 1980. B. an increase in the rate of real wage growth since the early 1970s. C. a decrease in average real wages in the United States and other industrial countries. D. increasing wage inequality in the United States.
The American Federation of State, County, Government and Municipal Employees is an example of a(n)
A) guild. B) craft union. C) industrial union. D) public-sector union.