A game in which players as a group gain at the end of the game is referred to as
A. negative-sum game.
B. positive-sum game.
C. tit-for-tat game.
D. zero-sum game.
Answer: B
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If instead the government used a pollution permit system, what permit price would achieve a cost-effective allocation of abatement? Compare the costs of this allocation to the costs of using the uniform standard described in part (b).
Assume that there are two firms, each emitting 20 units of pollutants into the environment, for a total of 40 units in their region. The government sets an aggregate abatement standard (AST) of 20 units. The polluters' cost functions are as follows, where the dollar values are in thousands: Polluter 1: TAC1 = 10 + 0.75(A1)2, Polluter 2: TAC2 = 5 + 0.5(A2)2, MAC1 = 1.5A1, MAC2 = A2.
An appreciation of the domestic currency can be caused by ________
A) a decrease in the domestic interest rate B) an increase in the domestic interest rate and expectation of an increase in the value of the domestic currency C) an increase in the domestic interest rate and the expectation of a decrease in the value of the domestic currency D) the expectation of a decrease in the value of the domestic currency
The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, social welfare equals
A) A. B) A + B + C. C) A + B + C + D + E. D) zero.
When full employment is present in the United States:
a. the rate of unemployment will fall to zero. b. the actual rate of unemployment will be less than the natural rate of unemployment. c. approximately 95 percent of the adult population will be employed. d. approximately 95 percent of the labor force will be employed.