A dominant strategy refers to a strategy where one player knows he will always beat the other player
Indicate whether the statement is true or false
FALSE
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The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is under-qualified d. Initial Public Offerings (IPOs) seek investors when prospects look good
Which of the following taxes is most likely to reduce inequity?
A. A sales tax. B. A gasoline tax. C. A local property tax. D. The federal income tax.
An example of a price that changes only infrequently is the price of
a. stocks on the New York Stock Exchange. b. crude oil. c. residential real estate. d. magazines sold at newsstands.
Economists observed the following growth rates in the fourth quarter of 1995: real GDP = 2.8 percent; M1 = 7.8 percent; GDP deflator = 2.2 percent. Given this data, the growth of nominal GDP was approximately
A. 12.8 percent. B. 10.0 percent. C. 5.6 percent. D. 5.0 percent. E. 0.6 percent.