In tit-for-tat, if your partner ________ in your first interaction, then you will ________ in your next interaction.
A. defects; defect
B. defects; cooperate
C. defects; refuse to play
D. cooperates; defect
Answer: A
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Explain the difference between positive economics and normative economics
What will be an ideal response?
Bond prices and bond yields have a(n) ______________ relationship.
A. direct B. inverse C. independent D. positive
The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Using the regular percentage change formula, what is the price elasticity of supply when price decreases from $20 to $15?
A. 1 B. 0.45 C. 0.2 D. 0.67
Technological progress will
A) shift the LAS curve rightward but will not shift the SAS curve. B) not shift either the LAS or the SAS curve. C) shift both the LAS and SAS curves rightward. D) shift the SAS curve rightward but will not shift the LAS curve.