The average standard of living for poor countries will not increase if the population growth exceeds economic growth.
Answer the following statement true (T) or false (F)
True
In the poorest countries, population is still increasing rapidly, making it difficult to raise living standards. Per capita (average) incomes decline in many poor countries (such as Zimbabwe and Haiti) when population growth is greater than economic growth.
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Answer the following statement(s) true (T) or false (F)
1. When a game has more than one Nash equilibrium, it is unlikely that a stable equilibrium will ever be reached. 2. The copycat game does not have a pure strategy Nash Equilibrium. 3. When mixed strategies are allowed, the Copycat Game does have a Nash equilibrium. 4. Nash equilibrium is a normative concept. 5. For an outcome to be Pareto optimal, the players' total payoff must be as large as possible.
A game in which the players neither negotiate nor coordinate in any way is a
A) cooperative game. B) noncooperative game. C) zero-sum game. D) negative-sum game.
If MiiTunes and The Rock Shop are both in the music business and faced with the choices outlined in the figure shown, we can predict the outcome will be that:
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.
A. MiiTunes charges low prices and The Rock Shop does not enter.
B. MiiTunes charges high prices and The Rock Shop enters.
C. MiiTunes charges high prices and The Rock Shop does not enter.
D. MiiTunes charges low prices and The Rock Shop enters.
If a country's imports are very important in determining the volume of exports from its trading partners, then:
a. the simple spending multiplier understates the true value of the multiplier. b. the spending multiplier will be equal to 1/marginal propensity to import. c. the simple spending multiplier is an accurate measure of the multiplier effect. d. the simple spending multiplier will be equal to 1/MPC e. the spending multiplier will be equal to 1/marginal propensity to save.