Canned milk was only rationed to babies and small children during World War II. This rationing was an example of allocation by
A) market price.
B) first-come, first-served.
C) sharing equally.
D) force.
E) personal characteristics.
E
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What is the counter-intuitive solution to a mixed strategy?
A) Player A makes Player B indifferent between its strategy choices. B) Player A makes itself indifferent between its strategy choices. C) Player A changes the rules of the game. D) There are no mixed strategies in most games.
The concept of economic rent is associated with the economist
A) Adam Smith. B) Karl Marx. C) David Ricardo. D) Henry George.
The Dodd-Frank law
A) created new regulations for financial markets and firms. B) based compensation of bankers on shareholder value. C) rewarded bankers when market share increased. D) created rules that help create the recent financial crisis. E) removed capital requirements on financial institutions.
According to the superstar phenomenon, the most talented person in which of the following occupations is most likely to earn extremely high wages?
a. an electrician b. a hair stylist c. a journalist d. an engineer