For infinitely repeated games in which the players follow a tit-for-tat strategy, which one of the following outcomes is NOT possible?
A) The players cooperate with one another until someone decides to not cooperate, and then the other players will not cooperate for some period of time.
B) There can be dominant strategies.
C) If the information about another player's action is limited, then some cooperative actions may be incorrectly interpretted as "not cooperate."
D) All of the above are possible outcomes.
D
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Refer to Figure 3.1. If Marge and Homer both confess to the crime, what is Marge's payout?
A) 1 year B) 2 years C) 7 years D) 15 years
Over the past year, an economy's labor supply increased from 100 to 102, its capital stock increased from 1000 to 1030, and its output increased from 500 to 525. All measurements are in real terms
Calculate the contributions to economic growth of growth in capital, labor, and productivity if aK = 0.2 and aN = 0.8.
According to the utility model of consumer demand, the demand curve is downward-sloping because of the law of:
a. diminishing marginal utility. b. diminishing consumer equilibrium. c. consumer equilibrium. d. diminishing utility maximization.
Under the Depository Institutions Deregulation and Monetary Control Act, all depository institutions are now subject to the Fed's _____; at the same time all depository institutions are now legally authorized to issue ______.
Fill in the blank(s) with the appropriate word(s).