Why can't two firms in a Prisoners' Dilemma enforce a better outcome that has higher payoffs?
A) Under an outcome with higher payoffs, the outcome is not a Nash equilibrium and each firm has an incentive to change their actions.
B) Barriers to entry
C) Barriers to exit
D) The Nash equilibrium in a Prisoners' Dilemma has the highest possible payoffs for both firms.
A
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Refer to Figure 11.5. A decrease in exports is best illustrated by diagram
A) A. B) B. C) C. D) D.
Prior to almost all recessions since 1950, there has been a drop in
A) inflation. B) the money stock. C) the growth rate of the money stock. D) interest rates.
We say that money is a store of value because it represents:
A. a certain amount of purchasing power held over time. B. something you can use to purchase goods and services. C. something you can directly offer, like any good or service, in exchange for some good or service you want. D. a standard unit of comparison.
An increase in intended investment leads to a higher equilibrium level of national income
Indicate whether the statement is true or false