Which of the following is true of an extensive-form game?
A) The sum of the payoffs to the players in the game is always constant.
B) It involves simultaneous decision making by the players.
C) It involves sequential decision making by the players.
D) The players in the game earn equal payoffs in equilibrium.
C
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Which of the following statements is true?
A) Marginal analysis is a key component in the process of optimization in levels. B) In both the techniques of optimization, all costs have to be converted to the same unit of measurement. C) Optimization in levels calculates the change in net benefits when a person switches from one alternative to another. D) Only direct costs are considered when the net benefits of the alternatives are calculated.
The trade-offs made by the U.S. government to fund the war in Iraq
A) exceed the benefits derived from the war. B) show that the government is justified in its war spending. C) prove that the government is spending too much on the war. D) represent what was potentially sacrificed to engage in the war.
The policy tool of "credit easing" refers to the ________
A) Treasury's issuance of federal debt to finance home buying B) federal government's requirement that the Fed must lend directly to home buyers C) Fed's requirement that the federal government must lend to directly to home buyers D) Fed's purchase of private securities to stimulate banks' lending E) Fed's lowering of the federal funds rate to zero
Sports announcers often refer to a batter in a hitting slump as "being due." If they are correct, then it must be the case that
A) a batter's hits are randomly distributed. B) a batter's at-bats are related to each other. C) a batter's at-bats are independent of each other. D) baseball players are acting irrationally.