A mathematical summary of inequality based on the Lorenz curve is known as the
A. Income distribution share.
B. Gini coefficient.
C. Okun coefficient.
D. Lorenz coefficient.
Answer: B
Economics
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If a player has a dominant strategy in a simultaneous-move game, then she is sure to get her best outcome
Indicate whether the statement is true or false
Economics
Fine-dining restaurants commonly provide statements in their menus such as, "A 20% gratuity will be added to all checks for parties of six or more patrons"
Given that this statement tends to raise the level of tips or gratuities left by other groups of diners, the statement is a good example of: A) the endowment effect. B) loss aversion. C) anchoring. D) none of the above
Economics