In games, the strategy to reach a particular goal:
A. has begun to be documented by economists.
B. should be similar to what others have chosen to reach the same goal.
C. is the same for everyone.
D. can be different for different players and still achieve the same goal.
Answer: D
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Which of the following is NOT a way to signal high quality
a. wearing everyday clothes to a job interview b. leaving a big tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
The Federal Open Market Committee consists of:
a. the 12-member Board of Governors. b. seven members of the Board of Governors and five district presidents. c. the president of the New York district bank and the members of the Council of Economic Advisers. d. the chairman of the Board of Governors and five district presidents. e. seven members of the Board of Governors and a nine-member board of directors of the district banks.
Three persons, A, B, and C, will use a simple majority vote to determine whether some good will be purchased. Each person's "tax share" of the purchase price of the good will be $25. Person A receives $30 worth of benefits from the good, person B receives $26 worth of benefits from the good, and person C receives $2 worth of benefits from the good. It follows that __________ person(s) will vote
for the good, __________ person(s) will vote against it, and that the outcome is __________. A) one; two; inefficient B) two; one; efficient C) one; two; efficient D) two; one; inefficient
Classical growth theory argued that economic growth was limited because of diminishing marginal productivity.
Answer the following statement true (T) or false (F)