In numerous experiments, researchers have found that if a Proposer and a Responder are asked to split a fixed sum on money in the ultimatum bargaining game, the Proposer will, on average, offer the Responder:
A. nothing.
B. less than would be predicted by standard economic theory.
C. more than would be predicted by standard economic theory.
D. exactly the amount that would be predicted by economic theory.
Answer: C
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The problem of "scarcity" applies
A) only in industrially developed countries because resources are scarce in these countries. B) only in underdeveloped countries because there are few productive resources in these countries. C) only in economic systems that are just beginning to develop because specialized resources are scarce. D) to all economic systems, regardless of their level of development.
In 1960, out-of-pocket spending on health care in the United States was
A) 2.2 percent. B) 6 percent. C) 48 percent. D) 64 percent.
The definition of a country that is called a ________ when its stock of foreign financial assets is greater than the foreign-owned holdings of domestic assets
A) net creditor B) net debtor C) surplus nation D) deficit nation
The short-run aggregate supply curve (in the absence of misperceptions)
A) is vertical. B) slopes upward. C) is horizontal. D) slopes downward.