An example of a zero-sum game is
A. a consumer purchasing a used car from a used car dealer.
B. the prisoners' dilemma.
C. exchange.
D. poker.
Answer: D
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The gold standard is an example of a ________ exchange rate system.
A. dollarized B. flexible C. fixed D. nominal
An import quota is the same as an import ban
Indicate whether the statement is true or false
The efforts of nations to influence exchange rates are known as
A) open market operations. B) establishing terms of trade. C) foreign exchange market intervention. D) rate discrimination.
Four friends decide to have a party every Saturday. They decide to contribute to a pool of money that will be spent for the parties. The table shows the maximum amount each friend is willing to contribute for each party:
Number of parties Peter Mary Kate Jacob First party $250 $340 $120 $215 Second party $200 $270 $100 $160 Third party $135 $80 $70 $100 Fourth party $60 $100 $25 $40 If the cost of each party is $225, up to how many parties should they have to maximize total surplus? A) 1 B) 2 C) 3 D) 4