A cancer patient is told he needs chemotherapy in order to live three more years at best, but the patient's final three years will be filled with all the terrible side-effects of the treatment
Without it, he will surely die within a year, but his quality of life would be a better. Suppose he chooses to quit chemotherapy and instead he spends his time learning to play the cello, something he always wanted to learn. The economic way of thinking suggests A) others should consider playing the cello while they are still young and healthy.
B) the doctors were absolutely right—the patient needs chemotherapy.
C) the patient considers playing the cello a substitute for chemotherapy.
D) the patient has clearly given up his will to live.
C
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Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) Best Treats Do Not Introduce and Healthy Snacks Do Not Introduce is a Nash equilibrium.
B) Best Treats Introduce and Healthy Snacks Introduce is a Nash equilibrium.
C) There are no Nash equilibria in this game.
D) Best Treats Introduce and Healthy Snacks Do Not Introduce is a Nash equilibrium.
Means-tested college aid, base college aid primarily on
a. a student's abilities, and create an incentive to save. b. a student's abilities but create a disincentive to save. c. the current interest rate and are an incentive to save. d. the current interest rate and are a disincentive to save.
Partially-flexible exchange rates:
A. produce fewer exchange rate changes in general than fixed exchange rates. B. provide governments with a more independent monetary policy than flexible exchange rates. C. mix market forces with government intervention in a way that permits the exchange rate to respond to long-term balance of payments problems. D. mix market forces with government intervention in a way that allows exchange rates to respond to speculative pressures.
Sources of increasing returns that help raise productivity growth include the following, except:
A. More specialized inputs B. Spreading of development costs C. Network effects D. Low unemployment