A surprising outcome of the Rock-Paper-Scissors game is that
A) it is a clear example of a first mover advantage.
B) there is no pure-strategy Nash equilibrium.
C) it is best not to play the game.
D) it is a good way to determine who goes first in a sequential move game.
B
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When the Fed purchases federal government bonds in the open market
A) the demand for money expands. B) there is no change in the money supply. C) the money supply expands. D) the money supply contracts.
An example of fixed investment spending for a business is
A) a purchase of a home by a household. B) a purchase of a pizza oven by an Italian restaurant. C) a purchase of a corporate bond by Google. D) $15 million of unsold furniture at a furniture store.
A sudden rise in the market demand in a competitive industry leads to
a. A short run market equilibrium price higher than the original equilibrium b. A market equilibrium higher than the short run price c. Some firms exiting the market d. All of the above
Aggregate demand is _____________.
Fill in the blank(s) with the appropriate word(s).