A strategy that limits defection in a repeated prisoner's dilemma game is:
A. a tit-for-tat strategy.
B. an ultimatum bargaining game.
C. a Nash equilibrium.
D. a cartel.
Answer: A
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Which economist said, "This focus on distribution makes the significance of distributional issues (transfer issues) in political life relatively greater and the significance of widespread common interest in political life relatively smaller."?
A) John Maynard Keynes B) Milton Friedman C) David Friedman D) Mancur Olson E) David Ricardo
Which of the following accurately contrasts consumption and investment?
a. Investment is a much larger component of aggregate demand than consumption. b. Consumption involves government purchases, whereas investment involves household purchases. c. Consumption includes purchases by households, whereas investment includes purchases by firms. d. Investment is more influenced by disposable income than is consumption.
What is the conclusion that behavioral economists have made about the amount of product variety in the market place?
What will be an ideal response?
The social rate of discount is best approximated by:
a. the cost of government borrowing b. the opportunity cost of resources taken from the private sector c. 3 percent d. 30 percent e. none of the above