A complete information game is a special case of an incomplete information game -- where "Nature" assigns each player a "type" with probability 1.
Answer the following statement true (T) or false (F)
True
Rationale: In complete information games, there is no uncertainty about what type of player one is playing.
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Using this consumption function, autonomous consumption is
A) $0. B) between $1 and $2 trillion. C) more than $2 trillion and less that $5 trillion. D) more than $5 trillion and less than $8 trillion. E) more than $8 trillion.
How does monopoly product quality compare to the quality a social planner would choose? a. The monopolist targets the marginal consumer's valuation of quality, whereas the social planner targets the average consumer's. This leads the monopolist to make inefficiently low-quality products. b. The monopolist targets the marginal consumer's valuation of quality, whereas the social planner targets
the average consumer's. This leads the monopolist to make inefficiently high-quality products. c. There is no difference due to a standard neutrality argument. d. None of the above.
In contrast to previous eras, a significant change seen today is that no model of government
a. is viewed as a good alternative to democracy. b. can successfully overthrow all vestiges of autocratic rule. c. is associated with a significant wealth gap. d. can compete with the power of individual citizens.
A bank's reserve ratio is 5 percent and the bank has $1,000 in deposits. Its reserve amount to
a) $5 b) $50 c) $95 d) $950