In an ultimatum game
A) non-profit-maximizing behavior often occurs.
B) players move simultaneously.
C) players act in an economically rational way.
D) one player receives nothing.
A
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For country Gamma, the opportunity cost for producing 1 computer is 10 tons of steel. For country Beta, the opportunity cost for producing 1 computer is 6 tons of steel. Which country has the comparative advantage in the production of steel?
A) Gamma B) Beta C) Both have the comparative advantage in the production of steel. D) Neither country has the comparative advantage in the production of steel. E) More information is needed to determine which of the two nations has the comparative advantage.
Assuming mustard and burgers are complements, a decline in the price of burgers will
A) decrease the demand for burgers. B) decrease in the quantity demanded of burgers. C) increase the demand for mustard. D) decrease the demand for mustard.
In Figure 9.6, if full employment occurs at QB, then aggregate demand is
A. Too great, causing demand-pull inflation. B. Too great, causing cyclical unemployment. C. Just right, causing no cyclical unemployment. D. Too small, causing cyclical unemployment.
Other things equal, ________ interest rates increase the government deficit because of ________ government interest payments.
A. low; higher B. low; lower C. high; lower D. high; higher