A game's outcome is a Nash equilibrium when
a. any attempt to improve one player's payoff will lower the other player's payoff.
b. neither player wants to change his strategy, given the strategy chosen by the other player.
c. the total payoff to the players is as large as possible.
d. the first player has selected his strategy taking the second player's optimal response into account.
b. neither player wants to change his strategy, given the strategy chosen by the other player.
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The total number of people aged 16 years and over who are not institutionalized ________
A) equals the number of employed plus unemployed B) is the working-age population C) does not include students D) is the labor force
All of the following statements about the Toxic Substances Control Act (TSCA) are correct EXCEPT
a. TSCA was enacted in the 1970s. b. One of TSCA’s primary objectives is to control chemicals that pose a risk after they are introduced into commerce. c. TSCA is the legislation that governs U.S. chemical policy today. d. TSCA grants EPA the authority to require testing on existing chemicals and to review most newly introduced chemicals before introduced to commerce.
If a process is said to be integrated of order one, or I(1), _____.
A. it is stationary at level B. averages of such processes already satisfy the standard limit theorems C. the first difference of the process is weakly dependent D. it does not have a unit root
The issue of the separation of ownership and control is concerned with the fact that:
A. many small proprietorships are actually controlled by large corporations. B. major decisions in large corporations are generally made by professional managers rather than the owners of the corporation. C. most farms are owned by landlords who do not live on the farms. D. politicians pass laws to control corporations, but since corporations cannot vote, they cannot protest such control.