Refer to the figure below. 
When Row Resorts and Column Cruises both play their dominant strategy:
A. Column Cruises earns a higher profit than does Row Resorts.
B. both firms do better than if they had both played their dominated strategy.
C. both firms do worse than if they had both played their dominated strategy.
D. Row Resorts earns a higher profit than does Column Cruises.
Answer: C
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The experience of Chile's foreign sector in the last two decades of the 20th century supports the proposition that economic growth is supported by
A) import substitution. B) industrialization policies. C) trade liberalization policies. D) intra-industry trading. E) trade embargoes.
Which of the following statements concerning external sources of financing for nonfinancial businesses in the United States are TRUE?
A) Stocks are a far more important source of finance than are bonds. B) Stocks and bonds, combined, supply less than one-half of the external funds. C) Financial intermediaries are the least important source of external funds for businesses. D) Since 1970, more than half of the new issues of stock have been sold to American households.
One aspect of bank accounting is that many liabilities of banks are
A. assets of other persons and businesses in the economy. B. also liabilities of other persons and businesses in the economy. C. not matched by liabilities of most other banks. D. not actually owed to any other person or business in the economy.
For national security reasons a government decides that all of its base metal industry should not be located in the same geographical region, as it presently is
The government decides to allocate production quotas to firms in different parts of the country, but does not restrict in any way the transactions between consumers and base metal producers. This scheme is A) efficient as consumers still buy from whoever they like. B) efficient as those consumers who value base metals the most can purchase them. C) likely to be inefficient as some of the industry's output is not produced by the firms with the lowest cost. D) likely to be inefficient as the scheme will require subsidies to work. E) efficient as learning by doing effects will be strongest in the firms set up in new geographical regions.