A dominant strategy exists for at least one player in every game
a. True
b. False
Indicate whether the statement is true or false
False
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Jane is willing to pay $80 for a pair of shoes. The actual price of the shoes is $50. Her marginal benefit is
A) $80. B) $30. C) $50. D) $1300.
Which of the following sequences results from a decrease in the price level?
a. the money demand curve shifts leftward, the interest rate decreases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts upward, and there is a rightward movement along the aggregate demand curve. b. the money demand curve shifts rightward, the interest rate increases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts downward, and there is a rightward movement along the aggregate demand curve. c. the money demand curve shifts leftward, the interest rate decreases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts upward, and there is a leftward movement along the aggregate demand curve. d. the money demand curve shifts rightward, the interest rate decreases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts upward, and there is a movement upward along the aggregate demand curve. e. the money demand curve shifts leftward, the interest rate increases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts upward, and there is a leftward movement along the aggregate demand curve.
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt maker would be willing to supply 100 t-shirts. Using the midpoint method, the price elasticity of supply for t-shirts is about
a. 0.37, and supply is elastic. b. 0.37, and supply is inelastic. c. 2.71, and supply is elastic. d. 2.71, and supply is inelastic.
Macroeconomic issues include all of the following EXCEPT:
A. recessions and expansions. B. productivity. C. energy reserves. D. economic growth.