Refer to Figure 4.2. The dominant strategy for Sloane is to
A) go to the movie theater.
B) go to the bowling alley.
C) go to either the movie theater or to the bowling alley.
D) Sloane does not have a dominant strategy.
D
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Total utility is best defined by which of the following?
a. The total satisfaction received from consuming a particular amount of a product b. The additional satisfaction received from consuming one more unit of a product c. The maximum amount of satisfaction from consuming a product d. The change in marginal utility multiplied by the price of a product
IBM buys treasury bonds from the UK as part of its investment portfolio. This is an example of:
A. foreign direct investment. B. foreign portfolio investment. C. importing. D. exporting.
Which of the following is not an example of a failure of market outcome?
A. A person with a gun offers you your life for your money. B. Emission of pollutants is producing acid rain and killing wildlife. C. Addicts continue to use heroin even though they would be better off without it. D. Income is not distributed in a way society wants.
In terms of the production possibility frontier, an increase in productivity attributable to new technology would best be shown by
A. a movement from a point inside the frontier to a point on it. B. a movement along the frontier. C. the production possibility frontier shifting outward, away from the origin. D. a movement toward the origin.