Games:
A. will always have several stable outcomes.
B. are always zero sum.
C. will always have a dominant strategy.
D. None of the above are true.
Answer: D
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In the Keynesian model, the demand for money is inversely related to
A) investment. B) the money supply. C) the interest rate. D) the saving rate.
In a Malthusian world, what would improve the standard of living permanently?
A) a war B) a new medical drug C) birth control D) democracy
Every time you go to the grocery store, you try to wait in the shortest line. But the lines always seem to be roughly the same length. Why?
A. The cashiers do not have an incentive to work faster. B. The cashiers work at the same speed. C. Other people are trying to choose the shortest line too. D. Random chance equalizes the length of the lines.
The income elasticity of demand for all goods taken together must be
A. between 0 and 1. B. zero. C. +1. D. -1.