A payoff matrix shows ________
A) the various combinations of inputs required to produce a good
B) the return from each action that players can take in a game
C) the different combinations of two goods that can be bought with a given income
D) the payment made to each factor of production for the production of a good
B
You might also like to view...
Refer to Figure 4.7. You will receive a payoff of -5 points if you ask for points and so do ________ of your classmates
A) 3 B) 4 C) 5 D) none of the above
Banks subject to reserve requirements set by the Federal Reserve System include
A) only nationally chartered banks. B) only banks with assets less than $100 million. C) only banks with assets less than $500 million. D) all banks whether or not they are members of the Federal Reserve System.
In a sealed-bid Vickrey auction, the person who bids the:
A. highest gets the object of the bid at the price he or she bid. B. second highest bidder has the option to receive the good if he or she pays the price of the highest bidder. C. highest bidder gets the object but pays the price bid by the second highest bidder. D. second highest bidder gets the good and pays that price.
Which of the following is TRUE when a budget deficit exists?
A. Dissaving exists. B. A trade surplus exists. C. Tax revenues exceed government expenditures. D. Government expenditures exceed tax revenues.