In the ultimatum experiment, what are the usual outcomes?
A) Proposer proposes to give the minimum positive amount to the responder in all the rounds.
B) Proposer and responder are rational all the time.
C) Proposer proposes to give about 30~40% of total amount to the responders.
D) Proposer proposes to give 60~70% of total amount to the responders
C
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Economic regulation of business is justified if, by intervening, government can
a. improve the allocation of resources in society b. create economic rents for special interest groups c. reduce output and increase prices for an industry d. increase tax revenue from the regulated industry e. force firms to increase their costs of production
An increase in autonomous investment in an economy will _____
a. shift the aggregate expenditure line upward b. shift the aggregate expenditure line downward c. result in an upward movement along the aggregate expenditure line d. result in a downward movement along the aggregate expenditure line e. increase aggregate expenditures only at high levels of income
Law of supply
What will be an ideal response?
If the government cuts taxes, then it has undertaken:
A. both a policy change and a regime change. B. a policy change. C. a regime change. D. neither a policy change nor a regime change.