The Maximin Criterion Can Be Defined as Which of the Following

question 224

Multiple Choice

The maximin criterion can be defined as which of the following?

• A)One seeks the maximum of the minimum payoffs to the various available strategies.
• B)One seeks the minimum of the maximum losses among the various available strategies.
• C)One seeks the maximum of the minimum losses to the various available strategies.
• D)One seeks the maximum of the maximum gains of the various available strategies.

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Definitions:

Non-interventionists

Advocates or policies favoring minimal political or military involvement by a country in international affairs.

Keynesian Economists

Economists who follow the principles of Keynesian economics, emphasizing the role government policy and fiscal measures play in managing economic cycles.

Discretionary Economic Policies

Economic policies based on judgment or choice rather than set rules, often involving government intervention in the economy through spending and taxation decisions.

Destabilizing

Causing or likely to cause a lack of stability in an economy or market, leading to uncertainty and potential financial downturns.