In chicken game, the worst possible outcome occurs when both players play their tough strategy
Indicate whether the statement is true or false
TRUE
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If price were $190, there would be a _____ (shortage or surplus) of _____.
If elasticity of demand is 10, a 1% increase in price will lower quantity demanded by
A. .1%. B. 1%. C. 10%. D. 100%.
A depreciation of the U.S. dollar
A. makes U.S. exports more expensive in terms of foreign currency and imports less expensive in terms of the dollar, increasing net exports. B. makes U.S. exports more expensive in terms of foreign currency and imports less expensive in terms of the dollar, decreasing net exports. C. makes U.S. exports less expensive in terms of foreign currency and imports more expensive in terms of the dollar, increasing net exports. D. makes U.S. exports less expensive in terms of foreign currency and imports more expensive in terms of the dollar, decreasing net exports.
The interest rate is determined by the
a. altruism or greed of bankers. b. demand for loanable funds. c. supply for loanable funds. d. supply and demand for loanable funds.