A strategy used in repeated games that leads to greater cooperation over time is called ______.
a. tit-for-tat strategy
b. game theory
c. one-shot strategy
d. monopoly strategy
a. tit-for-tat strategy
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The key idea of the aggregate expenditure model is that in any particular year, the level of ________ is determined mainly by the level of aggregate expenditure
A) GDP B) frictional unemployment C) export spending D) government spending
A central bank that is buying its own currency might be trying to ________
A) weaken its currency B) increase the domestic money supply C) reduce domestic interest rates D) reduce inflation
When there are positive externalities in the consumption of a good:
a. marginal social benefit exceeds marginal private benefit. b. the marginal social benefit curve lies below the private market demand curve. c. the socially optimal level of output exceeds the private market equilibrium quantity. d. public policy aims to lower the level of output below the private optimum.
When the US government engages in deficit spending, that spending is primarily financed by
(a) increasing the required reserve ratio (b) borrowing from the World Bank (c) issuing new bonds (d) appreciating the value of the dollar (e) depreciating the value of the dollar