A game in which the first player has the power to confront the second player with a take-it-or-leave-it offer is the:
A. repeated prisoner's dilemma.
B. ultimatum bargaining game.
C. matching pennies game.
D. Nash bargaining game.
Answer: B
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Using the above figure, the perfectly competitive firm in the diagram will earn an economic profit if the market price is
A) P1. B) P2. C) P3. D) P4.
Which of the following can be a barrier to an LDC's economic growth and development?
a. Low population growth. b. A low level of human capital. c. Faster capital accumulation. d. More infrastructure.
First movers
A) are usually firms with large market share. B) are the first to bring out a new product. C) usually copy successful products. D) are mainly found in the computer industry. E) have memorable trade names.
In December 1999 people feared that there might be computer problems at banks as the century changed. Consequently, people wanted to hold relatively more in currency and relatively less in deposits. In anticipation banks raised their reserve ratios to have enough cash on hand to meet depositors' demands. These actions by the public
a. would increase the multiplier. If the Fed wanted to offset the effect of this on the size of the money supply, it could have sold bonds. b. would increase the multiplier. If the Fed wanted to offset the effect of this on the size of the money supply, it could have bought bonds. c. would reduce the multiplier. If the Fed wanted to offset the effect of this on the size of the money supply, it could have sold bonds. d. would reduce the multiplier. If the Fed wanted to offset the effect of this on the size of the money supply, it could have bought bonds.