When does a game have a first-mover advantage?
What will be an ideal response?
A game has first-mover advantage when the first player to act in a sequential game gets a benefit from doing so.
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The difference between the costs (or benefits) created by both technological and pecuniary externalities is that in both cases costs are imposed on _____, but for _____ they are external to the market while _____ are allocated within the market
a. parties to the transaction; technological externalities; pecuniary externalities b. parties to the transaction; pecuniary externalities; technological externalities c. third parties; technological externalities; pecuniary externalities d. third parties; pecuniary externalities; technological externalities
The inflation rate can be calculated as the percentage change in:
A. real GDP. B. the CPI. C. the exchange rate. D. nominal GDP.
Two candidates, Smith and Jones, are running for the same political office. Last night they were in a debate. It is generally accepted that Smith is perceived more to the left after the debate than before the debate. This is bad news for Jones if before the debate Smith was perceived
A) too far right. B) too far left. C) as being in the middle of the political spectrum. D) b or c E) none of the above
The possibility that changes in the value of a nation's currency will result in variations in the market value of a business's assets is referred to as
A) hedge risk. B) foreign exchange risk. C) conversion risk. D) transaction risk.