In the film A Beautiful Mind, each of the three characters, Nash, Sol, and Bender, played a game where each preferred pursuing the blonde while the other two players pursued brunettes, so each preferred a different equilibrium
Also, no player had a dominant strategy in this game. Based on this, explain which of the 5 game archetypes their game did and did not represent.
Because each player preferred a different equilibrium, the game was not one of pure coordination or assurance. Since no player had a dominant strategy, the game was not a prisoner's dilemma. This means the game was either battle of the sexes or chicken. Unless each player ending up with a brunette was seen as a disastrous outcome, then battle of the sexes was most likely the game they were playing.
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Crop lien laws that existed in the South in the late 19th century:
a. allowed country stores to require debtors to repay their debts in cotton. b. led to the under-production of cotton. c. protected sharecroppers from exploitation by banks and other lending institutions. d. redistributed property by providing small farms for freed slaves. e. All of the above.
Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000 . and her expenses for the business were $15,000 . When she started her tax and bookkeeping business, Julia gave up her supplemental job doing in-home pet sitting. She used to earn $10,000 per year from pet sitting. Assume that she incurred no costs for her pet sitting
business. Julia's implicit costs are a. 0. b. $10,000. c. $15,000. d. $25,000.
Economic growth appears on a production possibilities curve as
A. the curve shifting out away from the origin. B. a change in the slope of the curve. C. the points outside the production possibilities curve. D. the curve shifting in toward the origin.
When a direct expenditure offset occurs with the implementation of an expansionary fiscal policy,
A. the stimulative effect will be more than expected. B. the fiscal policy will not be discretionary. C. the time lags associated with the implementation of fiscal policy will shorten. D. the stimulative effect will be less than expected.