A set of strategies in which no player can improve his or her payoff by changing his or her own action is called a:
A. framing strategy.
B. dominant strategy.
C. Vickrey position.
D. Nash equilibrium.
Answer: D
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In sequential games, the player who moves first:
A. sometimes has an advantage and sometimes has a disadvantage. B. has a first-mover advantage only when he or she is able to make a credible threat or promise to choose a dominated strategy. C. always has a first-mover advantage. D. has a first-mover advantage only when the second mover fails to choose the dominant strategy.
The ________ interest rate is adjusted for expected changes in the price level
A) ex ante real B) ex post real C) ex post nominal D) ex ante nominal
Which of the following statements about the Supplemental Security Income (SSI) program is FALSE?
A. Recipients who receive benefit payments under Social Security are also eligible for SSI. B. Benefits are based on need. C. It covers children and individuals with mental disabilities, including drug addicts and alcoholics. D. It is designed to establish nationwide minimum incomes for the aged, the blind, and the disabled.
The unemployment rate in an economy is 6%. The total population of the economy is 290 million, and the size of the civilian labor force is 150 million. The number of unemployed workers in this economy is:
A. 6 million B. 9 million C. 12 million D. 24 million