A ________ occurs if all players in a game play their best strategies given what their competitors do.
A. tit-for-tat strategy
B. dominant strategy
C. prisoners' dilemma
D. Nash equilibrium
Answer: D
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Technological change brings a ________ to firms that adopt the new technology
A) permanent economic profit B) temporary economic profit C) permanent economic loss D) temporary economic loss E) temporary normal profit
The Federal funds market is a market for trading funds between
A) a bank and a multinational corporation. B) a bank and the government. C) a bank and another bank. D) a bank and the Federal Reserve Bank.
As compared to a firm that competes for labor, a monopsony will:
a. hire fewer workers and pay lower wages. b. hire fewer workers by pay higher wages. c. pay lower wages but hire more workers. d. pay higher wages and hire more workers.
About one out of every ________ white children under the age of 18 is poor.
Fill in the blank(s) with the appropriate word(s).