Refer to Figure a. Charlie and Joe both want to ride shotgun with their mother, so they play a game of rock-paper-scissors to determine who gets to sit in the front seat. In the table, -1 represents a loss, 1 a win and 0 a tie, and Joe's payoff is shown in the upper left-hand corner of each cell, while Charlie's appears in the lower right-hand corner. What is Charlie's dominant strategy?
A. Rock
B. Paper
C. Scissors
D. Charlie does not have a dominant strategy.
D. Charlie does not have a dominant strategy.
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If income decreases, there will be a parallel inward shift of the budget line
a. True b. False
A backward-bending labor supply curve implies that
A) the substitution effect dominates the income effect at higher wage rates but not at lower wage rates. B) the substitution effect dominates the income effect at lower wage rates but not at higher wage rates. C) leisure is an inferior good. D) workers are irrational.
National saving minus investment equals the current account
Indicate whether the statement is true or false
Since 1980, the share of temporary workers in total U.S. employment has ________
A) declined B) increased C) remained essentially unchanged D) been impossible to determine