Which of the following is NOT true?
A. The notion of perfect equilibrium is more useful in analyzing extensive-form games than normal-form games.
B. An extensive form representation usually provides more information than a normal-form representation of a game.
C. A normal-form game is most useful for sequential-move games.
D. The notion of credible threats makes more sense in extensive-form representations than in normal-form representations of a game.
Answer: C
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A White House proposal to increase infrastructure spending on roads, rail lines and runways is an example of
A) expansionary fiscal policy. B) insourcing policies. C) automatic stabilization. D) contractionary fiscal policy.
Randomized controlled trials:
A. choose people randomly to measure the impact of a particular intervention, saving the cost of evaluating all participants. B. randomly assign people into control and treatment groups in order to focus on the impact of a particular intervention. C. control how much of a treatment is given to each participant in order to measure the ideal quantity. D. are not a useful tool in assessing how specific interventions may influence economic development.
Payroll taxes (Social Security and Medicare) are:
A. progressive, leading to a more equitable distribution of income. B. proportional, because all pay the same rate. C. progressive, like the federal income tax. D. regressive, because the tax applies to only a fixed amount of income.
Juan wants to migrate from Mexico to the United States but knows he cannot do so legally at this time. If he decides to attempt to enter the United States illegally, which of the following costs will he most likely not face?
A. Payment to an expediter ("coyote") to facilitate his entry into the United States. B. A green card application fee. C. The loss of income from his current factory job. D. All of these are costs he must incur to migrate.