A noncooperative equilibrium is one in which:
A. a dominant strategy exists for both players.
B. each player ignores the actions of the other players.
C. always results in a negative-negative outcome.
D. the participants act independently, pursuing only their individual interests.
Answer: D
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The ______________ the gap between the tuition a college student pays and the equilibrium tuition for that college, the _____________ likely the student's instructors will be on time and attentive during their office hours
A) larger; less B) smaller; more C) larger; more D) smaller; less E) a and b
What is the main problem with using physical units, instead of dollars, as the measure of total economic activity?
a. Other countries do not use units of measurement. b. Units of measurement are more difficult to calculate than dollars. c. Physical units of measurement change from year to year. d. Different products have different units of measurement.
"Price discrimination is the same as price differentiation." Do you agree or disagree? Why?
What will be an ideal response?
Trade flows measure the:
A. movement of resources between nations. B. exports and imports of goods and services. C. transfer of information from one nation to another. D. transfer of money between nations.