Within a game theory model, if a change in decision-making raises corporation A's profits by $2 million and lowers corporation B's profits by $2 million, the game is a
A) negative-sum game.
B) zero-sum game.
C) positive-sum game.
D) cooperative game.
Answer: B
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Discuss the likely impact of each of the following on the unemployment rate:
a. The length of time workers are eligible to receive unemployment insurance payments is cut in half. b. The government passes a law making labor unions illegal. c. The minimum wage is raised by 50 percent. d. The government funds an Internet site where companies can post job openings at no charge.
Foreign residents can benefit from U.S. research and development activity because
A) they ignore U.S. patent laws and steal the technology. B) they can import the goods, obtaining inputs at lower cost than they would otherwise. C) countries usually share patented ideas. D) patents do a poor job of protecting the inventor.
The short-run supply curve is _______________ and the long-run supply curve is _______________ in a perfectly competitive market in which all firms have identical cost structures.
A. upward sloping; upward sloping B. upward sloping; perfectly elastic C. perfectly elastic; upward sloping D. downward sloping; upward sloping
Following the implementation of laws requiring automobiles to have seat belts, which of the following occurred?
a. An individual's probability of surviving an auto accident rose. b. There was an increase in pedestrian deaths. c. There was an increase in automobile accidents. d. All of the above are correct.