In repeated games:
A. a noncooperative outcome is more likely than in a single-round game.
B. cooperation never happens.
C. a cooperative outcome is more likely than in a single-round game.
D. players always cooperate and enjoy a mutually beneficial equilibrium.
C. a cooperative outcome is more likely than in a single-round game.
You might also like to view...
Because the minimum wage is not indexed to inflation, when there is inflation the nominal minimum wage ________, and the real minimum wage ________.
A. decreases; remains constant B. increases; decreases C. remains constant; remains constant D. remains constant; decreases
The formula for the CPI is
A) (Cost of CPI market basket at base period prices ÷ Cost of CPI market basket at current period prices) × 100. B) (Cost of CPI market basket at current period prices ÷ Cost of CPI market basket at base period prices) × 100. C) (Cost of CPI market basket this year × Cost of CPI market basket at base period prices) × 100. D) (Cost of CPI market basket this year × Cost of CPI market basket at base period prices) ÷ 100. E) (Cost of CPI market basket at current period prices ÷ Cost of CPI market basket at next year's prices) × 100.
The balance of payments constraint refers to the limits on:
A. exchange rate policy imposed by flexible exchange rates. B. currency convertibility observed in most developing countries. C. domestic macroeconomic policy, arising from a shortage of international reserves. D. macroeconomic policy resulting from IMF conditionality.
A(n) ________ is a trade policy by which a nation agrees to limit its exports of a good in order to avoid more restrictive trade policies.
A. tariff B. voluntary export restraint (VER) C. import quota D. import ban