Which is the following is true of games, in interactions between oligopolists?
a. All games are cooperative in nature
b. Those in cooperative games are assumed to act independently.
c. Communication is an important facet of noncooperative games.
d. Most games are noncooperative games.
d
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Which of the following fiscal policy changes would be the most expansionary?
A. A $20 billion tax cut and $20 billion increase in government purchases B. A $40 billion tax cut C. A $10 billion tax cut and $30 billion increase in government purchases D. A $40 billion increase in government purchases
Average growth rates of per capita income were close to zero, on average, prior to the Industrial Revolution
a. True b. False Indicate whether the statement is true or false
Which of the following is not an example of in-kind transfers?
a. food stamps b. Medicaid c. the Earned Income Tax Credit d. housing vouchers
Which of the following actions best illustrates adverse selection?
a. A person adds risky stock to his portfolio. b. A person who has narrowly avoided many accidents applies for automobile insurance. c. A person is unwilling to buy a stock when she believes its price has an equal chance of rising or falling $10. d. A person purchases homeowners insurance and then checks his smoke detector batteries less frequently.