1. Which of the following is correct? a. In the lab experiments of the ultimatum game, offers by the proposer are never rejected by the responder because something is better than nothing. b. The ultimatum game is a simultaneous game. c. The lab experiments of the public goods game show that people are not solely self- interested. d. In the prisoners' dilemma game, the equilibrium is sometimes socially optimal. 2. Which of the following statements is most inaccurate? a. Inequality does not necessarily mean injustice. b. Substantive judgement of fairness involves the evaluation of the final outcome such as freedom or happiness. c. Procedural judgement of fairness involves the evaluation of the rules and institutions that brought about the final outcome. d. Redistribution policies bring about a Pareto improvement in the economy. e. Technology, biology, economic institutions, and people's preferences are all important determinants of economic outcomes.

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