Robert and Neal are playing the ultimatum game, starting with $100 . Based on the coin toss, Robert is the player to propose a division of the $100 . If Robert acts as economic theory assumes and Neal acts as experimental evidence shows, Neal will
a. accept Robert's proposal of keeping $99 and offering Neal $1.
b. accept Robert's proposal of keeping $60 and offering Neal $40.
c. reject Robert's proposal of keeping $99 and offering Neal $1.
d. reject Robert's proposal of keeping $60 and offering Neal $40.
c
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In a competitive labor market, if the supply of labor increases, wages will:
A. increase. B. decrease. C. remain the same. D. drop to zero.
For the average total cost curve of a firm with economies of scale, what happens to costs as output increases?
(A) Costs go up. (B) Costs go down. (C) Costs initially go up and then go down. (D) Costs initially go down and then go up.
Refer to the above table. You are given information on Celine's consumption for 2005 and 2015. Using 2005 as the base year compute the price index for 2015. The index equals
A. 0.4035. B. 247.826. C. 0.2478. D. 40.35.
Which of the following helps finance the medical expenses of individuals receiving TANF or SSI?
A. Medicare. B. Supplemental Security Income (SSI). C. Medicaid. D. Social Security.