Which of the following statements is TRUE about a non-cooperative game?
A) When two players each have a dominant strategy, joint profits may not be maximized.
B) When two players each have a dominant strategy, joint profits are maximized.
C) When players use their best responses, joint profits are maximized.
D) None of the above.
A
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List three ways government can reduce depletion of an endangered resource. Which of these ways requires the least amount of management, monitoring, and bureaucracy?
What will be an ideal response?
A good that is both nonexcludable and nonrival-in-consumption is called a
a. common good. b. external good. c. public good. d. private good.
If there is a recession, the Fed would most likely:
A. increase bank reserves by raising the discount rate. B. increase bank reserves by buying government securities. C. decrease bank reserves by raising the discount rate. D. decrease bank reserves by selling government securities.
The quantity theory of money of the Classical economists says that a change in the money supply will produce a:
A. proportional change in the price level. B. greater than proportional change in the price level. C. less than proportional change in the price level. D. wide variation in the velocity of money.