It is always the case that players in a prisoner's dilemma situation will choose the Nash Equilibrium
a. True
b. False
Indicate whether the statement is true or false
False
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The first automobile manufacturer to use a division of labor and to use a moving assembly line was
A. Henry Ford. B. Henry Leland. C. Henry Olds. D. Andrew Carnegie.
The rules of the National Collegiate Athletic Association (NCAA) limit the amount of money colleges can offer to athletes to
A) assure balanced competition on collegiate athletic fields. B) maintain high ethical standards in college sports. C) preserve the spirit of amateurism in an age of professionalism. D) prevent competition for star athletes from raising the price of enrolling them. E) prevent the schools with the most profitable athletic programs from attracting more than their share of the best athletes.
Which of the following possibly determines the allocation of goods and services in a free market?
a. The availability of raw materials b. The cost of production c. The level of government intervention d. The ability of the producers to produce a differentiated product e. The willingness and ability of consumers to pay for the product
A tax is progressive if it raises a greater fraction of total tax revenue every year
a. True b. False Indicate whether the statement is true or false