A player chooses a ________ strategy to maximize the minimum gain the player can earn.
A. tit-for-tat
B. Cournot
C. maximin
D. prisoners' dilemma
Answer: C
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Why isn't national defense provided by free markets?
What will be an ideal response?
Assume the graph shown represents Grace's budget constraint. Which of the following is true?
A. Grace's total utility is constant along her budget constraint.
B. Grace's marginal utility of each good is the same for each combination of goods on her budget line.
C. Grace's total expenditure is constant along her budget constraint.
D. Grace is indifferent between consuming any bundle that lies on the budget constraint.
Enforceable private property risks
A. Make economic development more likely. B. Make economic development less likely. C. Guarantee that economic development will occur. D. Ultimately have title effect on economy E. Guarantee that economic development will not occur.
One implication of the policy ineffectiveness proposition (PIP) is that expansionary __________ policy is not effective at raising __________
A) monetary; Real GDP B) monetary; the price level C) fiscal; the price level D) a and b E) a and c