An ultimatum game:
A. is a realistic way of modeling union negotiations.
B. is when one player makes an offer and the other has to accept or reject.
C. is a repeated game.
D. is a simultaneous move game.
Answer: B
You might also like to view...
A proposed project should be accepted if the net present value is
A) positive. B) negative. C) larger than the internal rate of return. D) smaller than the internal rate of return.
If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total cost?
a. $200 b. $1,000 c. $520 d. $320
A lowering of the legal reserve requirement makes it possible to expand the money supply
Indicate whether the statement is true or false
Suppose that the United States can make 15 cars or 20 bottles of wine with one year's worth of labor. France can make 10 cars or 18 bottles of wine with one year's worth of labor. From these numbers, we can conclude that
a. the United States has a comparative advantage in the production of cars. b. France has a comparative advantage in the production of wine. c. the United States has an absolute advantage in the production of cars. d. All of the above are correct.