Use the following statements to answer this question: I. If mixed strategies are allowed, every game has at least one Nash equilibrium. II. The maximin strategy is optimal in the game of "matching pennies."
A) Both I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) Both I and II are false.
B
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What is the chain-weighted price index for GDP in the base year?
A) 0 B) 1 C) 100 D) The answer depends on the price index for the current year.
The goal of fiscal policy is to ________, and typically focuses on ________
A) balance the federal budget; tax rates and tax revenues B) stabilize the supply of money in the economy; price stability C) reduce the severity of economic fluctuations; employment and production D) eliminate balance of payments deficits or surpluses; exchange rate stability
The costs involved with breaking a ban placed on a good depend on all of these except the:
A. punishment associated with rule breaking. B. likelihood of being caught. C. likelihood of being punished if caught. D. ability of the public or individuals to pay for those costs.
A rising budget deficit created through government spending may result in a fall in domestic investment, a rise in private savings, or a rise in the _________ deficit.
a. economic b. trade c. government d. savings