In a non-cooperative game the players each pursue their ______.
a. binding contract
b. mutual payoff
c. partners’ goals
d. individual self-interest
d. individual self-interest
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There are debt relief programs currently available for highly indebted poor countries
Indicate whether the statement is true or false
In what way is each and every one of the economies of the more than 200 countries of the world similar?
A. all use the same macroeconomic policies B. each focuses on a Keynesian perspective C. all have their own distinctive characteristics D. each focuses on a neoclassical perspective
You are a manager in a perfectly competitive market. The price in your market is $14. Your total cost curve is C(Q) = 10 + 4Q + 0.5Q2. What level of profits will you make in the short run?
A. $40 B. $80 C. $20 D. $60
For inferior goods
A. the substitution and income effects of a price increase will both decrease the quantity of the good demanded. B. the substitution and income effects of a price increase will both increase the quantity of the good demanded. C. the substitution effect of a price increase will decrease the quantity of the good demanded while the income effect of a price increase will increase the quantity of the good demanded. D. the substitution effect of a price increase will increase the quantity of the good demanded while the income effect of a price increase will decrease the quantity of the good demanded.