Refer to the above payoff matrix for the profits (in $ millions) of two firms (X and Y) making a decision to advertise or not. Which of the following is the outcome of the dominant strategy without cooperation?
A) Both firm X and firm Y choose not to advertise.
B) Both firm X and firm Y choose to advertise.
C) Firm X chooses to advertise while firm Y chooses not to advertise.
D) Firm X chooses not to advertise while firm Y chooses to advertise.
B
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According to new growth theorists, more technological improvements can be brought about by
A) the government taking a more active role in regulating industries. B) government policies that lead to increases in human capital. C) tougher immigration laws. D) a government policy that encourages increased consumption.
The percentage of the noninstitutionalized working-age individuals who are employed or seeking work is known as
A) the labor force. B) the labor force participation rate. C) discouraged worker. D) the stock of employed and unemployed workers.