A prisoner's dilemma exists when
A) all parties are as well off as possible.
B) all parties are worse off than would be the case if the parties could agree to another set of behaviors.
C) all but one party is worse off.
D) there are no benefits at all from any strategy.
B
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In the case of a normal good, an increase in consumers' incomes would shift the
a. demand curve inward b. supply curve inward c. supply curve outward d. supply and demand curves inward e. demand curve outward
Other things equal. an open market purchase of government securities by the Fed will not result in which of the following?
a. increased bond prices b. a reduced volume of loans issued by the commercial banking system c. decreased interest rates d. an increase in the price level
If real GDP is $21 trillion, consumption is $14 trillion, planned investment is $4 trillion, government purchases are $4 trillion, net exports are -$1 trillion, then the unintended inventory adjustment is:
a. -$2 trillion. b. -$1 trillion. c. $0. d. $1 trillion.
Identify two ways that the government intervenes in markets to control prices and restricts the use of individual property
What will be an ideal response?