The following depicts a normal-form game of price competition.Firm AFirm B??Low PriceHigh Price?Low Price0,025,-5?High Price-5,2510,10Suppose that firm A deviates from a trigger strategy to support a high price. What is the present value of A's payoff from cheating?
A. 20
B. 25
C. 5
D. 35
Answer: B
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Suppose the population (age 16 and over) of Cameroon is 250 million; 10 million are unemployed, and 125 million hold jobs. The employment/population ratio in Cameroon is
a. 8 percent. b. 50 percent. c. 54 percent. d. 92 percent.
Which of the following statements is false?
a. The sum of the unemployment rate and the employment rate always equals 100 percent. b. The sum of the number of employed persons and the number of unemployed persons equals the civilian non-institutional population. c. The labor force participation rate equals the number of persons in the civilian labor force divided by the number of persons in the total population. d. a, b, and c
Who made this statement? "The really exhausting and the really repulsive labours, instead of being better paid than others, are almost invariably paid the worst of all…. The hardships and the earnings, instead of being directly proportional, as in any just arrangements of society they would be, are generally in an inverse ratio to one another."
A. John Stuart Mill B. John Maynard Keynes C. Elizabeth Warren and Amelia Warren Tyagi D. Beth Schulman
When a person can pass some of her costs of using a resource on to someone else,
A) the use of the resource is not affected by her actions. B) the internal costs of using the resource exceed the private costs. C) she uses too much of the resource. D) she uses too little of the resource.