The payoff matrix is a fundamental tool of
a. monopolistic competition.
b. game theory.
c. corporate finance theory.
d. regulatory oversight.
b
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A load fund
A) charges a commission for purchases or sales. B) is not obligated to redeem shares issued. C) earns income only from management fees. D) issues shares that may sell at a discount to the market value of the underlying assets.
Economists call a game that is played more than once:
A. a repeated game. B. collusion. C. a commitment strategy. D. cooperative price play.
Kelly is an attorney and also an excellent typist. She can type 120 words per minute, but she is pressed for time because she has all the legal work she can handle at $75 per hour. Kelly's friend Todd works as a waiter and would like some typing work (provided that he can make at least his wage as a waiter, which is $25 per hour). Todd can only type 60 words per minute. a. Kelly should do all
the typing because she is faster. b. Todd should do the typing as long as his earnings are more than $25 and less than $37.50 per hour. c. Unless Todd can match Kelly's typing speed, he should remain a waiter. d. Todd should do the typing, and Kelly should pay him $20 per hour.
Personal consumption expenditures
a. represent approximately two-thirds of GDP b. are equal to personal income minus individual taxes c. include durable good purchases but not nondurable good purchases d. do not include any intangible consumption items e. include all goods and services bought by the government