In the ultimatum game, when the allocator and the recipient care about fairness, how is the distribution of $20.00 affected?
a. Allocators receive everything, and recipients receive nothing.
b. Recipients usually reject offers of less than a 10 percent share.
c. Allocators usually offer recipients a very small share.
d. Allocators and recipients always end up sharing the $20.00 equally.
b. Recipients usually reject offers of less than a 10 percent share.
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The federal goal of making land widely accessible, especially in the last half of the 19th century,
a. was largely realized without fraud or favoritism. b. was implemented despite a process that favored special interests. c. was often subverted by fraud. d. None of the above is correct. e. Only b and c are correct.
Because the smallcountry monopolist loses the ability to control the market price, consumers enjoy more quantity, competitive prices, and:
a. a bonus because the foreign goods are of higher quality. b. a loss because the monopoly loses profits. c. higher consumer surplus because the monopolist's producer surplus is reduced. d. a loss because now unions have less power than before.
Which one of the following factors will most likely cause an increase in aggregate demand?
A. An increase in net exports. B. An increase in the real interest rate. C. A decrease in net exports due to falling incomes abroad. D. A technological development that decreases the cost of producing computer chips.
Which of the following help to correct for the market failure of imperfect information?
A. nutrition labeling B. homeowner warranties C. professional licensing D. All of the above are correct.