Which of the following is a correct statement?
A. A perfect equilibrium is always Nash.
B. A Nash equilibrium is always perfect in a multistage game.
C. A Nash equilibrium is always perfect.
D. None of the answers is correct.
Answer: A
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A voting procedure in which the alternative that receives the most votes wins, even if that alternative does not receive a majority of the votes, is known as the
A) Borda-count method. B) Condorcet method. C) instant runoff method. D) plurality-rule method
The balance of trade records
A) trade in financial assets. B) the current account plus long-term capital. C) the value of merchandise exports minus imports. D) short-term capital plus the basic balance.
The debit side of the current account includes the imports of
a. goods only b. goods and services c. services only d. services and resources only e. financial assets
A computer manufacturer sells 1,000 units per month at $500 each. A price cut to $400 is being considered. His marginal cost is constant at $300 per unit. To maintain profits, quantity sold must increase to at least
a. 1,500. b. 2,000. c. 2,500. d. 3,000.