Are the buying and selling of stocks centralized activities? Why or why not? Yes, the New York Stock Exchange is the principal exchange for the nations of the world. No, people can buy stocks anywhere, and they do not need to go through a market. Yes, the world’s stock markets are coordinated exchanges, and they are dependent on one another. No, there are many stock markets around the world, and they are independent of one another.

In which of the following games is it clearly the case that the cooperative outcome of the game is good for the two players and bad for society? a. two oil companies own adjacent oil fields over a common pool of oil, and each company decides whether to drill one well or two wells. b. two airlines dominate air travel between city a and city b, and each airline decides whether to charge a "high" airfare or a "low" airfare on flights between those two cities. c. two superpowers decide whether to build new weapons or to disarm. d. in all of the above cases, the cooperative outcome of the game is good for the two players and bad for society