Answer the following statement(s) true (T) or false (F)
1. When both players have dominant strategies, there is one and only one Nash equilibrium
2. In any game situation, at least one player always has a dominant strategy.
3. An outcome is a Nash equilibrium if and only if both players agree that the outcome is desirable.
4. The main problem in the Prisoners' Dilemma is that the players involved fail to agree on an outcome that would be mutually beneficial.
5. When both players have dominant strategies, there is only one Nash equilibrium.
1. True
2. False
3. False
4. True
5. True
You might also like to view...
A way governments have of financing their deficits without having to pay interest is to
A) issue currency. B) sell bonds to financial intermediaries. C) borrow directly from financial intermediaries. D) sell bonds in the direct finance market.
If the required reserve ratio is 10 percent, $1,000 cash deposited into a checkable deposit account will generate, assuming willing borrowers, an increase in the money supply of:
a. $900. b. $1,100. c. $9,000. d. $10,000. e. $11,000.
Members of the Federal Reserve Board of Governors are appointed to 14-year terms to provide a level of isolation from political influence.
a. true b. false
If OPEC raises the price of oil and production costs increase, this may cause
A. Demand-pull inflation. B. Super-pull inflation. C. Cost-push inflation. D. Hyperinflation.