Which of the following statements represents a key point about strategic decision making?
A) Strategy is less important in nonconstant sum games than in constant sum games.
B) The payoffs in cooperative games will always be higher than in noncooperative games.
C) It is essential to understand your opponent's point of view and to deduce his or her likely responses to your actions.
D) Optimal strategies in cooperative games always lead to economically efficient outcomes.
C
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The fee schedule capable of contributing the most net revenue to a museum's budget depends on
A) the cost of constructing the museum. B) the cost of heating and lighting the museum. C) the cost of purchasing and maintaining the museum exhibits. D) the demand to view the museum's collection. E) whether the museum is publicly or privately owned.
All of the following would be potential problems if developing nations around the world emphasized export promotion EXCEPT
A) industrial nations may be unable to absorb the exports of many newly industrializing nations. B) it would be much harder to emphasize exports under the WTO framework if the emphasis in exports requires some kind of subsidies. C) export growth may not add to GDP if it crowds out growth in output of goods for domestic consumption. D) export promotion by many countries may lead to economic conflicts. E) current research has clearly established that there is no causal connection between exports and faster economic growth.
Countries that came together by treaty to form the General Agreement on Tariffs and Trade (GATT) agreed to treat all members equally with respect to trade, impose high tariffs on non-GATT countries, and impose low import quotas on non-GATT countries
Indicate whether the statement is true or false
If people decide to hold more currency relative to deposits, the money supply
a. falls. The Fed could lessen the impact of this by buying Treasury bonds. b. falls. The Fed could lessen the impact of this by selling Treasury bonds. c. rises. The Fed could lessen the impact of this by buying Treasury bonds. d. rises. The Fed could lessen the impact of the by selling Treasury bonds.