A simultaneous game is one in which:
A. there is never a winner if players act rationally.
B. players act together to achieve a common goal.
C. players take turns making moves and/or decisions.
D. players make their moves and/or decisions at the same time.
Answer: D
You might also like to view...
The basic reason that a competitive unregulated market produces an inefficient amount of a good with an external cost is because
A) producers cannot measure marginal social cost. B) producers do not pay the external cost. C) the general public does not care about external costs. D) external costs are not a political issue. E) the external cost is paid by consumers rather than producers.
Which of the following represents a problem with using per capita GDP to compare standard of living between less-developed and industrially advanced countries?
A. GDP per capita does not take into account differences in population between countries. B. GDP is particularly difficult to measure in industrially advanced countries because a much larger percentage of economic activity occurs outside of officially measured market activity than in less-developed countries. C. GDP per capita will overstate the prevailing standard of living for the average person in countries with extreme levels of income inequality. D. GDP per capita and other quality of life measures are not correlated.