FinalPractice.pdf - ECON 1P91 Practice for Final June 6 2019 Solutions will not be provided Note that these problems are intended for practice They do

FinalPractice.pdf - ECON 1P91 Practice for Final June 6...

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ECON 1P91 Practice for Final June 6, 2019 Solutions will not be provided. Note that these problems are intended for practice. They do not cover all the possible material that might be tested, and YOUR FINAL SHALL BE CUMULATIVE . Please select one of the choices, in each of the following multiple choice questions. 1.Who of the following is NOT an ethicist we mentioned in lectures? (A) Confucius(B) Robert Nozick(C) Thomas Aquinas(D) Michel Foucault 2.Which of the following statements is the best summary of natural law? 1
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3. Consider the following game. Two players simultaneously choose either heads or tails on a penny. If both pennies match (i.e. both choose heads, or both choose tails), then Player A gets $1 from Player B. Otherwise, Player B gets $1 from Player A. The following payoff matrix depicts this situation. What is the pure-strategy Nash equilibrium? Figure 1: Matching Pennies Game Heads Tails Heads 1,-1 -1,1 Tails -1,1 1, -1 Player B Player A Number left (right) of comma refers to A’s (B’s) payoff. (A) (Heads, Heads) and (Tails, Tails) (B) (Heads, Tails) and (Tails, Heads) (C) Both (A) and (B) (D) None of the above
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