A mixed strategy is a strategy that:
A. randomizes over two or more available actions in order to keep rivals from being able to predict a player's action.
B. guarantees the highest payoff given the worst possible scenario.
C. results in the highest payoff to a player regardless of the opponent's action.
D. describes a set of circumstances in which no player can improve her payoff by unilaterally changing her own strategy, given the other players' strategies.
Answer: A
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Exhibit 10-6 Aggregate supply curve
In Exhibit 10-6, the economy's employment potential is fully exhausted at:
A. GDP = $1,000 billion. B. GDP = $1,100 billion. C. GDP = $1,200 billion. D. the employment potential is never fully exhausted.
When government tries to change social norms, they:
A. might run an extensive ad campaign. B. try to get consumers to internalize the cost or benefit they cause by their market decision. C. are trying to change people's opinions about their actions. D. All of these statements are true.