Refer to Game Matrix II. Assume this game is played sequentially. When is the Stackelberg equilibrium of this game also Pareto optimal?

Game Matrix II

The following questions refer to the game matrix below. Player A can play the strategies "High" and "Low," and Player B can play the strategies "Odd" and "Even."



a. Always.

b. When A is the first player.

c. When B is the first player.

d. Never.


b. When A is the first player.

Economics

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A scatter diagram will be most useful

A) in discerning a possible relationship between height and weight for individuals. B) in resolving a dispute over two normative assertions. C) in predicting next year's rate of unemployment. D) All of the above are correct.

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The ratio of a country's average export price to its average import price is

(a) its absolute advantage. (b) its comparative advantage. (c) its terms of trade. (d) its exchange rate.

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If the federal government tries to make fiscal policy sustainable by increasing taxes on wages, the opportunity cost of leisure will ________ and will result in ________ potential GDP

A) increase; lower B) decrease; higher C) decrease; lower D) increase; higher

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If an economy is operating inside its production possibilities curve for tanks and bread:

a. scarcity does not exist
b. all resources are being used efficiently.
c. production of bread can only increase by sacrificing the production of tanks.
d. production of bread and tanks can both increase.

Economics