Which of the following statements concerning the prisoner's dilemma is TRUE?
A. Neither player will pick the dominant strategy.
B. The player who moves last will always win.
C. The player who moves first will always win.
D. Confessing is the dominant strategy for both players.
Answer: D
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Use the following table to answer the next question.The table shows a private open economy (no government). All figures are in billions of dollars.Real GDPC + INet Exports$400$420$20450460205005002055054020600580206506202070066020The equilibrium real GDP is
A. $600. B. $700. C. $650. D. $550.
Why are time series data unlikely to give an accurate estimate of demand?
What will be an ideal response?
According to the search model, Consumer Reports magazine benefits consumers by increasing the marginal benefit of information
a. True b. False
An income tax is regressive if
A. higher-income households pay a larger share of their income in taxes than lower-income households. B. most of the tax revenue is used to benefit higher-income households. C. lower-income households pay a larger share of their income in taxes than higher-income households. D. most of the tax revenue is used to benefit lower-income households.