The ability to make counteroffers transforms bargaining from a game in which ________ trumps everything to a game in which ________ is the winning strategy.
A. first-mover advantage; patience
B. patience; first-mover advantage
C. commitment strategy; self-interested behavior
D. first-mover advantage; cooperation
Answer: A
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The understanding of why an economy is contracting during slowdowns and how to recommend appropriate policies is studied under:
A) macroeconomics. B) microeconomics. C) agricultural economics. D) international economics.
Which of the following is a result of increased real wages in the United States?
a. a decrease in the quantity of services demanded by households b. an increase in the opportunity cost of remaining employed in the home c. a decrease in the opportunity cost of working outside the home d. a decline in the number of households providing labor outside the home e. reduced use of labor-saving devices in households
Antitrust laws prohibit undesirable business practices by firms holding monopoly power.
Answer the following statement true (T) or false (F)
The U.N.'s Millennium Poverty Goal is to
A. Keep the number of people in poverty at a constant level. B. Cut the percentage of people in extreme poverty in half worldwide. C. Reduce the percentage of people in severe poverty in the poorest nations. D. Cut the absolute number of people in extreme poverty in half worldwide.