Refer to Figure 12.7. Which of the following statements is true?
A. Both Fred and Barney have a dominant strategy.
B. Neither Fred nor Barney has a dominant strategy.
C. Fred has a dominant strategy but Barney does not.
D. Barney has a dominant strategy but Fred does not.
Answer: C
Economics
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When individuals take externalities into account when making decisions, economists say they are:
a. internalizing the externality. b. eliminate the externality. c. subsidize a positive externality. d. subsidize a technology spillover.
Economics
If the government runs a primary deficit in year zero of B0, and, in year 1, decides to stabilize the debt (i.e., prevent the deficit from rising any further), then in year 1 and beyond, it must run a primary surplus equal to
A) zero. B) B0. C) (1 + r)B0. D) r. E) none of the above
Economics