What is a subgame?
A) It is a simultaneous game embedded in a sequential game.
B) It is one that starts at the final decision node of the tree.
C) It is one that begins at any decision node of the tree except the first decision node.
D) It is one that begins at any node of the tree, including the game itself.
D
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Other things being equal, the less elastic demand is: a. the lower the deadweight loss is resulting from the imposition of a given tax on a product. b. the greater the burden is of the tax borne by consumers
c. the greater the tax revenue collected by the government is. d. all of the above
What problem does the government have that makes price regulation less than an ideal solution?
a. There is no effective way to enforce price regulation. b. The government cannot tell what price a firm is charging. c. Regulators frequently will not have the information they need to set prices. d. Regulation often will lead to lower costs.
The following table shows Jay's estimated annual benefits of holding different amounts of money.Average moneyholdings($)Total benefit($)1002020029300364004150044How much money will Jay hold if the nominal interest rate is 8 percent? (Assume he wants his money holdings to be in multiples of $100.)
A. $300 B. $100 C. $400 D. $200
Which of the following equations describes the government deficit?
A. G - TR - INT - T B. G + TR - INT - T C. G + TR + INT - T D. G - TR + INT - T