Refer to Scenario 9.1. The dominant strategy for Monty is to place ________ sheep on the commons
A) 4
B) 5
C) Monty's dominant strategy depends on how man sheep Sheb places on the commons.
D) Monty has no dominant strategy.
B
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Under conditions of first-degree price discrimination
A) production will equal that which would exist under perfect competition. B) production will exceed that which would prevail under perfect competition. C) prices will be lower than under perfect competition. D) production will always be lower than under perfect competition.
Domestic _________ will always appear as part of the supply of financial capital.
a. receipts b. spending c. savings d. production
A higher tax rate could result in lower tax revenues if:
A. attempts to avoid or evade taxes increase. B. the tax has no incentive effects. C. individuals switch from leisure to labor. D. fewer people qualify for government assistance.