A payoff matrix summarizes all of the following except
A) who the players are.
B) the reason each player is playing the game.
C) the actions available to each player.
D) the payoffs available to each player.
B
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If a Pigovian tax is not large enough, the resulting market quantity:
A. will be equal to the efficient quantity. B. will be more than the efficient quantity. C. will be less than the efficient quantity. D. will be where the social marginal cost equals the social marginal benefit.
Most recessions last approximately three years
a. True b. False
Under a flexible exchange rate system, which of the following will be most likely to cause a depreciation in the exchange rate value of the dollar (relative to the English pound)?
a. An economic boom occurs in England, inducing English consumers to buy more American-made automobiles, trucks, and computer products. b. Real interest rates in the United States fall lower than real interest rates in England. c. Restrictive monetary policy in the United States causes inflation to be lower than in England. d. Attractive investment opportunities in the United States induce English investors to buy stock in U.S. firms.
Direct foreign investment has been most critical for China's domestic consumer market
Indicate whether the statement is true or false