In the prisoners' dilemma game, each player ________
A. consults the other player to determine his best action
B. chooses the best outcome for the other player
C. chooses the best outcome for himself
D. chooses the best outcome for both players together
C Each player maximizes his or her own well-being.
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Use the following table of U.S. balance of payments accounts to answer the next question.Current AccountFinancial AccountCapital AccountCreditDebitCreditDebitCreditDebit$45 billion$60 billion$72 billion$52 billion$7 billion$12 billionSuppose the U.S. exports $10 billion of coal to France. Which of the following statements is true?
A. The increase in the financial account credit of $10 billion will reduce the capital account credit by $2 billion and the current account credit by $8 billion. B. The increase in the capital account debit of $10 billion will increase the financial account debit by $10 billion as well. C. The increase in the current account debit of $10 billion will be offset by an increase in the capital account of $10 billion. D. The increase in the current account credit causes an increase in the financial and capital account surpluses of $5 billion each.
Use the indifference curves and the budget lines in Figure 19.3 to answer the indicated question. Assume the price of Y is $1 per unit. If the price per unit of good X is $3, the consumer would maximize utility by consuming
A. 10 units of Y. B. 25 units of Y. C. 21 units of Y. D. 30 units of Y.
Workers displaced due to technological change usually find it difficult to get new jobs
a. True b. False Indicate whether the statement is true or false
As farm productivity increases faster than demand:
a. fewer farmers are required to meet demand b. the number of farmers decreases over time c. the decreasing number of farmers is good news for society because the basic economic problem is scarcity d. all of the above