By committing to reduce one's options during a sequential game, a player can force a change in his opponents' strategy, and that commitment strategy results in a:
A. negative-negative outcome.
B. cooperative equilibrium.
C. payoff that would otherwise be out of reach.
D. payoff that he likely would have gotten anyway.
Answer: C
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The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is the most qualified d. Initial Public Offerings (IPOs) seek investors when prospects look poor
The per-worker production function is ____ sloped and ____ at a(n) ____ rate
a. negatively; decreases; diminishing b. negatively; decreases; increasing c. positively; increases; increasing d. positively; increases; diminishing
In 2016 based on people ages 15-74 the Swedish adult non-institutionalized population was about 7.3 million, the labor force was 5.2 million, and the number of people employed was 4.8 million. According to these numbers, the Swedish labor-force participation rate and unemployment rate were about
a. 71.2% and 7.7% b. 71.2% and 5.5% c. 65.8% and 7.7% d. 65.8% and 5.5%
In the American economy, the central figure is the ________________.
Fill in the blank(s) with the appropriate word(s).