We have two players A and B, where A can go L or R, and B can go T, B, or R. The payoffs are decided after this. Which of the following is a characteristic of such games?
A. Backward induction
B. Simultaneous moves
C. Dominant strategies
D. Sequential moves
Answer: B
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The following data describe France's economy in 2008
Consumption 234 billion euros Government expenditure 93 billion euros Investment 88 billion euros Exports 128 billion euros Imports 137 billion euros From the data, we can conclude that in France A) net exports totaled -11 billion euros. B) GDP equaled 424 billion euros. C) GDP equaled 680 billion euros. D) Net exports totaled 265 billion euros.
A problem with the operation of the gold standard in the world economy was that
A) it involved too much government intervention in the economy. B) the world economy was subject to too much inflation. C) a country did not have control of its domestic monetary policy. D) it caused the Great Depression.
Unlimited liability means
a. a firm is always liable for damages when it is at fault b. if a firm is sued, it has enough insurance to pay the damages c. the owners are personally liable for all the debts of the firm d. a corporation is not held liable for the stockholders' errors e. a sole proprietor's own net worth cannot be used to pay debts
If disposable income increases by $400 billion and consumption increases by $300 billion, the MPC equals
A. 0.75. B. 0.60. C. 0.80. D. 0.68.