Which is true about dominant strategies in the game in Scenario 13.15?
A) $80 is dominant for Simple; $70 is dominant for Boring.
B) $80 is dominant for Simple; $25 is dominant for Boring.
C) $35 is dominant for Simple; $70 is dominant for Boring.
D) $35 is dominant for Simple; $25 is dominant for Boring.
E) There are no dominant strategies in the above game.
B
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In the above figure, technological progress that increases the expected profit will
A) shift the demand for loanable funds curve leftward. B) shift the demand for loanable funds curve rightward. C) have no effect on the demand for loanable funds curve. D) make the demand for loanable funds curve become horizontal.
Given aggregate demand, a decrease in aggregate supply creates:
a. a higher price level and a higher GDP level. b. a lower price level and a higher GDP level. c. cost-push inflation. d. demand-pull inflation.
Economists and psychologists are often on opposite sides of the economic growth debate. The nature of the debate is such that
a. economists emphasize the benefits of growth to finance valuable programs, and psychologists question whether more goods make people happier. b. economists emphasize that more money means more income for the government, and psychologists believe poorer people are happier. c. economists believe that economic growth imposes no serious costs on the economy, and psychologists question the statistical reliability of GDP numbers. d. economists stress the importance of money relative to leisure, and psychologists stress the importance of an unstructured life.
Potential GDP
a. is always less than actual GDP. b. is identical to actual GDP. c. measures inflation. d. is the output an economy could produce at full employment.