Which of the following statements is true?
A. Every game has a dominant strategy.
B. People never choose the strategies that result in Nash equilibrium.
C. Not every game has a dominant strategy.
D. Every game has multiple Nash equilibria.
Answer: C
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Some colleges now offer massive open online courses (MOOCs), where students do not need to be in the same classroom as their instructors
The fixed cost of an online course is relatively ________, but after the courses are placed online, the marginal cost of providing instruction to an additional student is ________. A) high; low B) high; high C) low; high D) low; low
Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:
A. lost value over time, because the payments were not adjusted for inflation. B. grew poorer over time, because the payments were nominal amounts. C. received a fixed amount that caused their real income to decline. D. All of these statements are true.
A market is defined as contestable if entry to it
A. is easy, but exit from it is difficult. B. and exit from it are both easy. C. is difficult, but exit from it is easy. D. and exit from it are both difficult.
A policy mix of an expansionary fiscal policy and an expansionary monetary policy would cause output to ________ and interest rates to ________.
A) increase; increase B) increase; increase, decrease, or remain unchanged C) increase, decrease, or remain unchanged; increase D) decrease; increase