In a beauty contest game such as predicting the average of respondents choosing a number between 0 and 100
A) the outcome is not normally the Nash equilibrium for the game.
B) the winner usually exhibits level-3 reasoning.
C) the winner must understand the non-rationality of the players.
D) All of the above.
D
Economics
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Between 1810 and 1860, the value of slaves in the United States
a. nearly doubled. b. tripled. c. increased nearly fourfold. d. increased nearly tenfold.
Economics
Assume a fixed demand for money curve and the Fed increases the money supply. The result is a temporary:
a. excess quantity of money demanded. b. excess quantity of money supplied. c. new equilibrium interest rate. d. decrease in the demand for loans.
Economics