In 2009, Samoa changed from everyone driving on the right side of the road to everyone driving on the left side of the road. Although everyone agreed that it was important to drive on the same side of the road, some Samoans were not happy about the change. This created a disagreement about which Nash equilibrium was the best equilibrium, and therefore represented
A) an assurance game.
B) a pure coordination game.
C) a battle of the sexes game.
D) a prisoner's dilemma game.
C
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A nation with an official settlements balance of $50 billion is likely to experience a:
A) balance of payments surplus and accumulate $50 billion in international reserves B) balance of payments deficit and accumulate $50 billion in international reserves C) balance of payments surplus and a decline of $50 billion in international reserves D) balance of payments deficit and a decline of $50 billion in international reserves
If you have a policy with 20 percent co-insurance, your insurer will pay ___ percent of your bill, leaving ___ percent for you.
A. 80; 20 B. 70; 30 C. 75; 25 D. None of the above is correct.
A business owner makes 50 items a day. She spends 8 hours in producing those items. If hired elsewhere she could have earned $10 an hour. The item sells for $10 each. Production occurs seven days a week. If the explicit (other production) costs total $10,000 a month the economic profit for the month (30 working/selling days) equals:
a. $2,600 b. $5,000 c. $2,240 d. $11,760
According to Rawls, individuals placed behind a veil of ignorance would
A. choose a less egalitarian society. B. move from an authoritarian to a democratic form of government. C. move from a democracy to an authoritarian form of government. D. choose a more egalitarian society.