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
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
Any point on the production possibilities curve illustrates:
a. minimum production combinations. b. maximum production combinations. c. economic growth. d. a nonfeasible production combination.