Within a game theory model, if a change in decision-making raises corporation A's profits by $2 million and lowers corporation B's profits by $2 million, the game is a
A) negative-sum game.
B) zero-sum game.
C) positive-sum game.
D) cooperative game.
Answer: B
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During the last decade, the price of shoes rose substantially yet people bought more pairs of new shoes each year. This experience suggests that the
A) supply curve of shoes shifted leftward. B) demand curve for shoes shifted leftward. C) supply curve of shoes shifted rightward. D) demand curve for shoes shifted rightward.
If two interdependent economies work independently pursuing the best interests of their own economies
A) both countries can end up worse than they planned because of international externalities. B) they will make other economies more vulnerable to international externalities. C) they will have to sacrifice their monetary autonomy to achieve their goals. D) both countries can end up worse than they planned because of the liquidity effect.