People are sometimes seen to give up money to make an allocation more fair. What experiment could be used to determine if this is because people truly care about fairness or because people want to avoid the consequences of others' spite?
a. The Ultimatum Game could be run to see if an even split is proposed.
b. The Dictator Game could be run to see if an even split is proposed.
c. The Battle of the Sexes could be run to see if players choose the rival's preferred outcome.
d. The repeated Prisoners Dilemma could be run to see if players can tacitly collude on Silent.
b
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How might government policies differ when attempting to reduce the three types of unemployment? Be specific
What will be an ideal response?
Huey and Steve can grow potatoes or tomatoes. The table above shows the pounds of potatoes and tomatoes Huey and Steve can grow in a week. Based on the table, Steve has a comparative advantage in
A) both potatoes and tomatoes. B) neither potatoes nor tomatoes. C) potatoes. D) tomatoes. E) More information is needed about Huey's comparative advantage in order to determine Steve's comparative advantage.
In the above figure, if there is a negative relationship between the variables x and y, which of the graphs above can be used to indicate this?
A) Figure A B) Figure B C) Figure C D) both Figure A and Figure C
When there are external economies of scale, an increase in the size of the market will
A) increase the number of firms and lower the price per unit. B) increase the number of firms and raise the price per unit. C) decrease the number of firms and raise the price per unit. D) decrease the number of firms and lower the price per unit. E) not affect the number of firms, but will lower the price per unit.