The study of how people make decisions in situations where attaining their goals depends on their interactions with others is called
A) game theory. B) dominant strategy equilibrium.
C) the prisoner's dilemma. D) Nash equilibrium.
A
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"Aggregate planned expenditure is the sum of planned consumption expenditure, investment, government expenditures on goods and services, and exports minus imports." Is the previous statement correct or incorrect?
What will be an ideal response?
Consumer surplus is
A) the total difference between the total amount that consumers actually pay for an item and the total amount that they would have been willing to pay. B) the total difference between the total costs firms incur in producing an item and the utility consumers derive from purchasing the item. C) the total difference between the total amount that consumers would have been willing to pay for an item and the total amount that they actually pay. D) the total difference between the utility consumers derive from purchasing an item and the total costs firms incur in producing the item.
Positive marginal utility implies increasing total utility
a. True b. False
Bank A has checkable deposits of $10 million and total reserves of $1 million. The required reserve ratio is 9 percent. The bank has required reserves of
A) $910,000. B) $90,000. C) $900,000. D) $1,000,000. E) There is not enough information provided to answer this question.