A two-player game has an equilibrium outcome
a. only if both players have dominant strategies
b. if neither player has a dominant strategy
c. whenever one player has a dominant strategy
d. only with tit-for-tat strategy
e. only with repeated trials
C
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An increase in ________ will shift the supply of loanable funds curve ________
A) expected future income; rightward B) wealth; leftward C) disposable income; leftward D) default risk; rightward
According to historical data, what is the effect of a sharp change in the current account on the exchange rate (both in the short and long run)?
A) At first, home currency will depreciate as CA balance falls, but over time, currency will begin to depreciate. B) At first, home currency will appreciate as CA balance falls, but over time, currency will begin to depreciate. C) At first, home currency will appreciate as CA balance rises, but over time, currency will begin to depreciate. D) At first, home currency will depreciate as CA balance falls, but over time, currency will begin to appreciate. E) At first, home currency will appreciate as CA balance falls, but over time, currency will begin to appreciate.
Which of the following was the single largest component of wealth in colonial America?
(a) Land (b) Stocks (c) Bonds (d) Capital
The profit of a firm is maximized when:
a. marginal revenue is maximum. b. marginal revenue is greater than marginal cost. c. marginal revenue is equal to marginal cost. d. marginal cost is minimum. e. marginal revenue is less than marginal cost.