Tracy and Amy are playing a game in which Tracy has the first move at X in the decision tree shown below. Once Tracy has chosen either the top or bottom branch at X, Amy, who can see what Tracy has chosen, must choose the top or bottom branch at Y or Z. Both players know the payoffs at the end of each branch. 
In the equilibrium this game, Tracy chooses the ________ branch, and then Amy chooses the ________ branch.
A. bottom; top
B. top; top
C. bottom; bottom
D. top; bottom
Answer: A
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Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120202408080401601204060801600800If Giovanni produces 40 pounds of green beans and Jorge produces 80 pounds of corn, then the total amount of green bean production equals ________ and the total amount of corn production equals ________. If Giovanni and Jorge specialize in their respective low-cost good, then the total pounds of green bean production equals ________ and the total pounds of corn production equals ________.
A. 200, 100; 320, 160 B. 100, 200; 160, 320 C. 100, 200; 320, 160 D. 200, 100; 160, 320
The highest fifth of all families receive approximately ____ of the distribution of annual money income among families
a. 5 percent b. 10 percent c. 25 percent d. 50 percent
A binding price floor is designed to:
a. increase efficiency. b. raise the price above the equilibrium price. c. keep the price below the equilibrium price. d. generate a shortage
The concept of an open economy means that
A. a nation's borders are open to flows of imports and exports. B. imports should be limited while exports should be expanded. C. imports and exports should be restricted. D. exports should be controlled but imports should be allowed in without restriction.