A dominant strategy is one that is best for one player regardless of the strategy chosen by the other player.
Answer the following statement true (T) or false (F)
True
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Serious environmental problems are
a. unique to industrial economies. b. unique to Western economies. c. unique to civilized economies (i.e., those in which people live mainly in cities). d. None of the above is correct.
"Bill Gates has made billions of dollars producing and marketing computer software. Many workers and consumers must have observation suffered in order for Gates to amass such enormous wealth." The person who made this
a. has failed to understand the principle of opportunity cost. b. has failed to comprehend the fallacy of composition. c. has failed to understand that specialization and voluntary exchange result in mutual economic gain. d. has utilized the economic way of thinking by thinking the gains of producers are made primarily at the expense of consumers and workers.
The value of M2 was
The Economic Report of the President estimated that for 1997, the US had the following money stock components (in billions): $426 in currency; $391.7 in checking account deposits; $8.2 in travelers checks; $242.8 in other checkable deposits; $963.7 in small denomination time deposits; $1395.4 in savings accounts; $591.5 in retail money market mutual funds; $579.2 in large time deposits; $235.9 in term repurchase agreements; $139.1 in Eurodollar accounts; and $359.5 in institutional money market mutual funds. a) $2454.1 b) $3417.8 c) $4019.3 d) $4958.0 e) $5333.0
Vote trading is especially likely to happen when ______.
a. the costs to the many for special projects are high b. the costs to the many for special projects are low c. most voters are well-informed d. Congress is transparent about the way it works