What is the present value of $500 promised four years from now at 5% annual interest?

In the diagram, economic discrimination is best represented by point:

A.  A.
B.  C rather than D or E.
C.  E rather than D or C.
D.  F.

Answer the following statement(s) true (T) or false (F)

1. If either player is receiving his maximum payoff, then that outcome is Pareto optimal. 2. An outcome that is Pareto optimal is preferred by both players to all other possible outcomes. 3. A Nash equilibrium need not be Pareto optimal, and a Pareto-optimal outcome need not be a Nash equilibrium. 4. In the Prisoners' Dilemma game, the only outcome that is not Pareto optimal is also the game's only Nash equilibrium. 5. When a game is played sequentially, the first player will have an advantage over the second player.