All games share three characteristics. Two of these characteristics are rule and strategies. What is the third characteristic called?
A) competition
B) collusion
C) results
D) payoffs
Answer: D
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Recall the Application. If country A has a lower overall income tax rate than country B, and labor can freely and easily move between the two countries, ________ in country A will tend to ________
A) labor demand; decrease B) labor supply; decrease C) labor demand; increase D) labor supply; increase
When a landscaping company decides to use drafting software and computers instead of hiring designers to draw design plans by hand, it is answering the ________ question
A) why B) how C) opportunity cost D) for whom E) what
When you work to support your lifestyle, you are making a tradeoff
a. True b. False Indicate whether the statement is true or false
Countries that grew the fastest over the last 100 or so years had average growth rates of real income per person of about
a. 1.5 percent per year. b. 2.0 percent per year. c. 2.5 percent per year. d. 3.0 percent per year.