The game in the figure shown is a version of:
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.
A. a sequential game.
B. a simultaneous game.
C. a cooperative game.
D. an ultimatum.
B. a simultaneous game.
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Used cars in Poorland sold for about 20% less than new cars of the same model manufactured in the same year. However, price differences were reduced when certified used-car dealers entered into the market for used cars in Poorland
What explains this phenomenon?
You own shares in a start-up internet company. If large swings in the stock market increase financial investors' concerns about market risk, then the price of your shares will ________, holding other factors constant.
A. either increase or decrease B. increase C. not change D. decrease
According to the demand pull theory, which is responsible for inflation?
a. producers raise prices to meet existing demand b. the economy is in a wage price spiral c. too much money is in circulation d. Demand for goods and services exceeds existing supply
The degree to which the public believes the central bank's announcements about future policy is its
A. reputation. B. credibility. C. openness. D. transparency.