In the ultimatum game, if neither the allocator nor the recipient cared about fairness, what would be the optimal distribution of $20.00?
a. $19.99 for the allocator and $0.01 for the recipient
b. $10.00 for the allocator and $10.00 for the recipient
c. $19.99 for the recipient and $0.01 for the allocator
d. $20.00 for the allocator and nothing for the recipient
a. $19.99 for the allocator and $0.01 for the recipient
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Refer to the scenario above. The interest earned on the sum deposited is:
A) $300. B) $1,000. C) $1,300. D) $2,300.
Suppose a market has the demand function Qd=20-0.5P. Using the midpoint method, what is the price elasticity of demand between $30 and $40?
Which of the following statements is true for the two countries illustrated in Figure 35.1?
A. Japan has an absolute advantage in motorcycles, the United States in DVD players. B. Japan has an absolute advantage in motorcycles. C. The United States has a comparative advantage in motorcycles, Japan in DVD players. D. The United States has a comparative advantage in DVD players.
A budget surplus means that:
a. Government revenues are greater than expenditures in a given year b. Government expenditures are greater than revenues in a given year c. Government revenues are greater than expenditures throughout time d. Government expenditures are falling and government revenues are rising