Since property seized through eminent domain must be taken for public use, the government cannot legally sell this seized property to private investors
Indicate whether the statement is true or false
FALSE
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A sub-game perfect Nash equilibrium is defined as
A) a set of strategies that are a Nash equilibrium in every subgame of a static game. B) a set of strategies that are a Nash equilibrium in every subgame of a dynamic game. C) a set of strategies that are a Nash equilibrium in a single subgame of a dynamic game. D) the game within the game.
New York City increased regulated taxi fares by 17.5 percent and expected taxi revenue to increase by the same amount. The taxi commission believed taxi demand was
a. unit elastic. b. somewhat elastic. c. perfectly elastic. d. perfectly inelastic. e. somewhat inelastic
Using a decision tree:
A. can help identify the dominant strategies in a prisoner's dilemma-type game. B. allows a player to see his optimal strategy in a simultaneous game. C. can help define a binding commitment strategy. D. allows a player to see his optimal strategy in a sequential game.
Which of the following is a positive statement?
A) An unemployment rate of 5.8 percent is too high. B) The unemployment rate is 5.8 percent. C) The unemployment rate should be below 5.8 percent. D) The unemployment rate should never be above 5.8 percent.