Relative to a simultaneous-move situation, the gain to firm R from being able to move first in the game in Scenario 13.14, would be
A) 40.
B) 37.
C) 32.
D) 5.
E) 3.
D
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A higher real rate of interest ________ the reward for saving and ________ the amount people need to save to reach a given target.
A. decreases; decreases B. increases; increases C. increases; decreases D. decreases; increases
Any point on the production possibilities curve illustrates:
a. minimum production combinations. b. maximum production combinations. c. economic growth. d. a nonfeasible production combination.
If everyone pays a fixed dollar amount of tax, then the tax is a
A. regressive tax. B. personal tax. C. marginal tax. D. proportional tax.
Ashton has the utility of wealth curve shown in the above figure. He owns a sports car worth $30,000, and that is his only wealth. Ashton is a careless driver and there is a 30 percent chance that he will have an accident within a year
If he does have an accident, his car is worthless. What is Ashton's expected utility? A) 100 B) 30 C) 70 D) zero