A swing at a popular, unfenced public park is:
A. a collective good.
B. a pure public good.
C. nonrival.
D. nonexcludable.
Answer: D
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Two players are trying to maximize their payoffs in the matrix below: Player 2? Move AMove BPlayer 1Move A (50,20)(40,80)?Move B(25,80)(10,10)What is the Nash equilibrium?
A. Player 1 will Move A and Player 2 will Move A B. Player 1 will Move B while Player 2 will Move B C. Player 1 will Move A while Player 2 will Move B D. Player 1 will move B and Player 2 will Move B
Tariff levels in developing countries tend to be ________ tariff levels in developed countries
A) lower than B) about equal to C) higher than D) there is no general pattern
When did the UK decide to adopt the Euro?
A) 1999 B) 2001 C) 2008 D) The UK has not adopted the Euro. E) 2010
Repeated games are conducive to
A) explicit cooperation. B) tacit cooperation. C) corruption. D) failing to have a Nash equilibrium.