Cooperation in repeated prisoner's dilemma situations seems to be enhanced by all of the following except
a. limited punishment schemes
b. clarity of conditional rewards
c. grim trigger strategy
d. provocability--i.e., credible threats of punishment
e. tit for tat strategy
c
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Marginal benefit curves slope
A) upward because of increasing opportunity cost. B) upward, but not because of increasing opportunity cost. C) downward because of increasing opportunity cost. D) downward, but not because of increasing opportunity cost.
In economics, activities done for others, such as providing house cleaning or dental work, are referred to as
A) services. B) physical capital. C) technology. D) goods.
How are the following transactions entered into the U.S. balance of payments?
(a) The U.S. government sends $2,000 worth of food aid to Africa. (b) A U.S. firm exports $10,000 worth of goods to the United Kingdom, payable in 3 months. (c) A U.S. tourist in Amsterdam spends $200 for food and hotels.
What is seigniorage? What are the factors that determine whether a currency should emerge as the dominant reserve currency?
What will be an ideal response?