This quiz works best with JavaScript enabled. Home > Finance > Economics > Microeconomics > Game Theory > Game Theory – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Game Theory Quiz 5 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Who is the founder of psychoanalytic theory? A) Ivan Pavlov. B) B.F. Skinner. C) Albert Bandura. D) Sigmund Freud. Show Answer Correct Answer: D) Sigmund Freud. 2. By changing the parameters of the jail time served-we can alter the ..... of the Prisoner's decisions A) Animosity. B) Predictabiltiy. C) Attitude. D) Fairness. Show Answer Correct Answer: B) Predictabiltiy. 3. Which of the following is most associated with price leadership, collusion, and cartels? A) Monopolistic. B) Monopoly. C) Oligopoly. D) Perfect. Show Answer Correct Answer: C) Oligopoly. 4. What is a normal (strategic) form game? A) A game of total conflict where the combined wealth of the players remains constant. B) A game where players have completely opposed interests. C) A game represented by a payoff matrix, where each row describes the strategy of one player. D) A game with a finite number of options. Show Answer Correct Answer: C) A game represented by a payoff matrix, where each row describes the strategy of one player. 5. In game theory, a situation in which one player can gain only what another players loses is called a: A) Non zero-sum game. B) Prisoners' dilemma. C) Zero-sum game. D) None of above. Show Answer Correct Answer: C) Zero-sum game. 6. For which of the following type of utility does in NOT make sense to compute mixed strategy solutions? A) Cardinal utilities. B) Utilities for a risk-averse player. C) Utilities where the ratio of differences is meaningful. D) Ordinal utilities. Show Answer Correct Answer: D) Ordinal utilities. 7. John Von Newman created the field of game theory in academics as a study of ..... A) Math. B) Video games. C) Economics. D) Warfare. Show Answer Correct Answer: A) Math. 8. Mathematical models are used in game design to create ..... A) Zero sum games. B) Combat mechanics. C) Marketing. D) Genres. Show Answer Correct Answer: B) Combat mechanics. 9. What is Nash equilibrium? A) A result where no player can increase their payoff by changing their decision unilaterally. B) A result where players have no regrets about their decisions. C) A result where there are multiple equilibria in the game. D) A result where players have perfect information about each other's strategies. Show Answer Correct Answer: A) A result where no player can increase their payoff by changing their decision unilaterally. 10. What are some applications of game theory? A) Psychology, evolutionary biology, war, politics, economics, and business. B) Mathematics, psychology, war, politics, economics, and business. C) Economics, psychology, war, politics, biology, and business. D) Business, psychology, war, politics, economics, and biology. Show Answer Correct Answer: A) Psychology, evolutionary biology, war, politics, economics, and business. 11. Which of the following phenomena cannot be modeled using game theory models? A) A country's embargo policy. B) Financial reporting analysis. C) Interrogation of prisoners. D) Determining the price of a product. Show Answer Correct Answer: B) Financial reporting analysis. 12. The study of how decisions are made when strategic interaction between firms exists is known as A) Predatory pricing theory. B) Game theory. C) Contestable market theory. D) Market power theory. Show Answer Correct Answer: B) Game theory. 13. The kinked demand curve model assumes that your competition will A) Match your price increases but not match your price decreases. B) Engage in predatory behavior. C) Match your price decreases but not match your price increases. D) Not consider your actions. Show Answer Correct Answer: C) Match your price decreases but not match your price increases. 14. Games which involve more than two players are called N-person games A) Yes. B) No. Show Answer Correct Answer: A) Yes. 15. Simultaneous gameplay is one way in which to limit ..... one player has on another player's actions in a game A) Dominance. B) Information. C) Disadvantages. D) Advantages. Show Answer Correct Answer: B) Information. 16. The initial state and the legal moves for each side define the ..... for the game. A) State Space Search. B) Game Tree. C) Forest. D) Search Tree. Show Answer Correct Answer: B) Game Tree. 17. 6 of diamonds, 2 of clubs, king of diamonds, 2 of diamonds, king of hearts A) 3 of a kind. B) 1 pair. C) High card. D) 2 pair. Show Answer Correct Answer: D) 2 pair. 18. Among the given options, which search algorithm requires less memory? A) Optimal search. B) BFS. C) DFS. D) Linear. Show Answer Correct Answer: C) DFS. 19. Players involved in game theory are called..... A) Player. B) Opponent. C) Actor. D) Doer. Show Answer Correct Answer: A) Player. 20. Moral hazard is a situation in which ..... A) An uninsured player becomes more risk-averse. B) An insurer becomes more risk-averse. C) An insurer becomes less risk-averse. D) An insured player becomes less risk-averse. Show Answer Correct Answer: D) An insured player becomes less risk-averse. 21. The following are the main functions in management, except..... A) Operation. B) Planning (Plan). C) Acting. D) Supervision (Controlling). Show Answer Correct Answer: A) Operation. 22. Queen, jack, ten, nine, eight of different suits A) Royal flush. B) Straight. C) Three of a kind. D) High card. Show Answer Correct Answer: B) Straight. 23. Zero-sum games demonstrate ..... just like a good video game. A) Visuals and sound. B) Players and non-players. C) Choices and consequences. D) Genre and target audiences. Show Answer Correct Answer: C) Choices and consequences. 24. Although we can assume players gain some enjoyment from playing a video game-the actual payoff is mostly A) Subjective. B) Bragging rights. C) Bad grades in school. D) Exhaustion. Show Answer Correct Answer: A) Subjective. 25. John Nash was the subject of a movie called ..... A) A Beautiful Mind. B) Equilibrium. C) The Nash Equilibrium. D) A Simple Mind. Show Answer Correct Answer: A) A Beautiful Mind. 26. The payoff value for which each player in a game always selects the same strategy is called the saddle point A) Yes. B) No. Show Answer Correct Answer: A) Yes. 27. DFS implemented using A) Stack. B) Linked list. C) Queue. D) Priority queue. Show Answer Correct Answer: A) Stack. 28. Would local businesses be in the oligopoly industry A) Yes. B) No. Show Answer Correct Answer: B) No. 29. In Prisoner's Dilemma-what is the best outcome for both prisoners? A) They both testify against each other. B) Prisoner A testifies against Prisoner B. C) They both remain silent. D) Prisoner B testifies against Prisoner A. Show Answer Correct Answer: C) They both remain silent. 30. In video games-equilibrium means there is a ..... among all players A) Friendship. B) Code of conduct. C) Mistrust. D) Balance of strategy. Show Answer Correct Answer: D) Balance of strategy. ← 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