This quiz works best with JavaScript enabled. Home > Economics > Microeconomics > Game Theory > Game Theory – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Game Theory Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... is not a consideration of game theory. A) Social interactions. B) Competition among people. C) Game controller reaction. D) Decision making. Show Answer Correct Answer: C) Game controller reaction. 2. Game theory demonstrates that strategies change as ..... A) More people participate. B) Power ups are collected. C) Experience points are gained. D) People begin to cheat. Show Answer Correct Answer: A) More people participate. 3. Rectangular game is also known as A) Zero sum game. B) Game. C) Competetive game. D) Two-person zero sum game. Show Answer Correct Answer: D) Two-person zero sum game. 4. Individually, the worst decisions are (start with self) A) Split-Split. B) Split-Steal. C) Steal-Split. D) Steal-Steal. Show Answer Correct Answer: B) Split-Steal. 5. Individually, Steal-Split is the best and Split-Steal the worst. Pursuing their individual interests, players strongly prefer A) Split. B) Steal. Show Answer Correct Answer: B) Steal. 6. The following are true statements from game theory except..... A) Game theory is a framework for thinking about strategic interaction. B) Game theory is a tool for determining policies in an organization. C) Mastering knowledge related to game theory does not guarantee us to win the competition. D) Game theory can only be explained using matrix models like mathematics. Show Answer Correct Answer: D) Game theory can only be explained using matrix models like mathematics. 7. Which one of the following options describes a strategy of the game? A) BHG departmental store decides to offer a storewide Christmas sale. B) Metro departmental store stands to gain 20% more in sales revenue. C) BHG departmental store stands to lose 10% of sales revenue. D) None of above. Show Answer Correct Answer: A) BHG departmental store decides to offer a storewide Christmas sale. 8. Persuade each other to move from Steal-Steal to Split-Split, players A) She broke her promise. B) She was smart. C) She was. D) She broke her promise. Show Answer Correct Answer: A) She broke her promise. 9. From the previous point, V = 5. Player B's V value =? A) 5. B) -5. C) 10. D) -10. Show Answer Correct Answer: B) -5. 10. How much of the money, the man hoped to win? A) 0%. B) 50%. C) 70%. D) 100%. Show Answer Correct Answer: B) 50%. 11. What is the highest ranking hand in poker? A) Straight. B) Royal flush. C) Straight flush. D) Full house. Show Answer Correct Answer: B) Royal flush. 12. How can we trust that the other player won't cheat? A) Limit their choices. B) We can't. Show Answer Correct Answer: A) Limit their choices. 13. Which of the following is a nonzero-sum game? A) Prisoners' dilemma. B) Chess. C) Competition among duo-polists when market share is the payoff. D) All of the above. E) None of the above. Show Answer Correct Answer: A) Prisoners' dilemma. 14. Video Game ..... are elements of game theory A) Studios. B) Demographics. C) Mechanics. D) Genres. Show Answer Correct Answer: C) Mechanics. 15. A common assumption about the players in a game is that A) Neither player knows the payoff matrix. B) The players have different information about the payoff matrix. C) Only one of the players pursues a rational strategy. D) The specific identity of the players is irrelevant to the play of the game. Show Answer Correct Answer: D) The specific identity of the players is irrelevant to the play of the game. 16. Which of the following is not an example of imperfect information, but rather incomplete information? A) A player's payoffs are unknown to the other player. B) A player's strategy choice is unknown to the other player. C) The game involves chance. D) None of above. Show Answer Correct Answer: A) A player's payoffs are unknown to the other player. 17. The primary goal of a cartel is to A) Increase demand to increase member profits. B) Increase market concentration. C) Decrease market concentration. D) Decrease supply to increase member profits. Show Answer Correct Answer: D) Decrease supply to increase member profits. 18. Which psychologists believed that the unconscious mind can be unlocked through dream analysis and hypnosis? A) Alfred Adler and Carl Jung. B) John B. Watson and Benjamin Spock. C) Sigmund Freud and Carl Jung. D) John B. Watson and Alfred Adler. Show Answer Correct Answer: C) Sigmund Freud and Carl Jung. 19. There are 4 jacks in a standard deck of 52 playing cards. If Peyton selects a card at random, what is the probability that it will be a jack? A) 1/13. B) 1/52. C) 1/2. D) 12/13. Show Answer Correct Answer: A) 1/13. 20. A game with two players where gain of one player is equal to loss of other player iscalled as A) Two person zero sum game. B) Multi person zero sum game. C) Two person judgmental game. D) Zero gain game. Show Answer Correct Answer: A) Two person zero sum game. ← PreviousNext →Related QuizzesMicroeconomics QuizzesEconomics QuizzesGame Theory Quiz 1Game Theory Quiz 2Game Theory Quiz 3Game Theory Quiz 4Game Theory Quiz 6Game Theory Quiz 7Game Theory Quiz 8Game Theory Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books