Open market operations generally involve the purchase and sales of

In experimental tests of the ultimatum game:

a. the proposer often offers an even split of the "pie", and responders often reject smaller offers, consistent with the predictions of game theory. b. the proposer often offers an even split of the "pie", and responders often reject smaller offers, in contrast to the predictions of game theory. c. the proposer often offers an unfair split, taking the lion's share of the "pie" for him or herself, and responders often accept such offers, consistent with the predictions of game theory. d. the proposer often offers an unfair split, taking the lion's share of the "pie" for him or herself, and responders often accept such offers, in contrast to the predictions of game theory.

Producing more cabbage is efficient if

a. cabbage production can be increased without reducing production of other goods. b. the opportunity cost of more cabbage is less than its marginal utility. c. society values the additional cabbage more highly than the lettuce it must give up to produce the extra cabbage. d. All of the above are correct.