Which of the following is true in an ultimatum game if more money is considered to be better than less?
A) The equilibrium outcome in an ultimatum game is equitable.
B) The equilibrium outcome in an ultimatum game is socially efficient.
C) The equilibrium in an ultimatum game is always a dominant strategy equilibrium.
D) There is no unique equilibrium in an ultimatum game.
B
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For a commercial bank, the term "reserves" refers to
A) a banker's concern ("reservation") in making loans to an individual without a job. B) the profit that the bank retains at the end of the year. C) the cash in its vaults and its deposits at the Federal Reserve. D) the net interest that it earns on loans.
Which of the following is correct?
A. Required reserves minus actual reserves equal excess reserves. B. Required reserves equal excess reserves minus actual reserves. C. Required reserves equal actual reserves plus excess reserves. D. Actual reserves minus required reserves equal excess reserves.