In sequential games, the player who moves first:
A. sometimes has an advantage and sometimes has a disadvantage.
B. has a first-mover advantage only when he or she is able to make a credible threat or promise to choose a dominated strategy.
C. always has a first-mover advantage.
D. has a first-mover advantage only when the second mover fails to choose the dominant strategy.
Answer: A
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East Asian economies have grown
A) rapidly because of high saving rates. B) rapidly despite a lack of property rights. C) slowly because of a lack of property rights. D) slowly because of low saving rates. E) rapidly because they virtually eliminated international trade.
According to Lucas' misperception theory, countries with higher rates of inflation should have a _____new classical AS curve
a. flatter. b. steeper. c. downward sloping d. vertical. e. none of the above.
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers clear-cut a tract of land rather than when paying per tree felled c. Drivers of heavier, safer cares are less likely to run stop signs d. workers on commission work harder than those paid an hourly wage
Modern bankers
a. expand the money supply by printing currency when they need it. b. decrease the supply of money when they extend additional loans. c. hold only a fraction of their assets in the form of reserves against their deposits. d. can increase their profits by increasing their holdings of excess reserves.