When a strategy is the best one to follow no matter what strategy other players choose, it is called a:
A. golden decision.
B. dominated strategy.
C. dominant strategy.
D. zero-sum strategy.
C. dominant strategy.
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A central bank with a hierarchical mandate will seek ________ as a condition of pursuing other goals
A) stable inflation B) high employment C) moderate interest rates D) the approval of the legislature E) none of the above
The due process (or takings) clause is found in the
a. Fifth Amendment b. The Declaration of Independence c. The preamble to the U.S. Constitution d. In New Deal legislation e. First amendment
An advantage of set-aside programs over price support programs is that they
A. Transfer more income to farmers. B. Raise the price of agricultural production but do not lead to a surplus of output. C. Reduce the price of agricultural goods. D. Affect the demand side as well as the supply side of the farm problem.
Refer to the budget line shown in the diagram. If the consumer's money income is $20, the:
A. prices of C and D cannot be determined.
B. price of C is $2 and the price of D is $4.
C. consumer can obtain a combination of 5 units of both C and D.
D. price of C is $4 and the price of D is $2.