The prisoner's dilemma shows that
A) players are better off if they act independently.
B) a game always ends in a positive sum condition.
C) people will always cheat.
D) players could be better off if they cooperated.
Answer: D
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A chief purpose of long-term contracts is to improve agents'
A) information. B) incentives. C) control over principals. D) security.
The idea that additional spending on research and development will produce additional knowledge that may further increase the productivity of capital is an argument used by some economists to claim that knowledge is subject to ________ returns
A) decreasing B) increasing C) constant D) negative
Which of the following financial assets is most likely to have the chance of a higher rate of return than the others?
A. Stocks B. Bonds C. Mutual funds D. Savings accounts
Sectoral changes in demand
a. create frictional unemployment, while firms paying wages above equilibrium to attract a better pool of candidates creates structural unemployment. b. create structural unemployment, while firms paying wages above equilibrium to attract a better pool of candidates creates frictional unemployment. c. and firms paying wages above equilibrium to attract a better pool of candidates both create structural unemployment. d. and firms paying wages above equilibrium to attract a better pool of candidates both create frictional unemployment.