The prisoners' dilemma is a tool of social analysis, and it shows why
A) individuals sometimes behave in ways inconsistent with their own best interest.
B) judges sometimes hand down sentences heavier or lighter than the law recommends.
C) people who break the law and are caught are behaving irrationally.
D) people who break the law and are caught are behaving rationally.
E) societies sometimes produce situations no member of the society wants.
E
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Most economists believe that property taxes
A. should be eliminated. B. are progressive. C. should become an important source of revenue for the federal government. D. are regressive.
Economists try to address their subject with a scientist's objectivity
a. True b. False Indicate whether the statement is true or false
As cities prospered and per-capita incomes increased, the demand for bus travel diminished. This suggests that:
A. cities could raise revenue by increasing bus fares. B. the demand for bus travel is price elastic. C. bus travel and automobile travel are complements. D. bus travel is an inferior good.
Economists have determined that there are four factors that seem to strongly affect a nation's rate of economic development. Which is NOT one of these four factors?
A. limiting the extent to which the government imposes trade barriers B. establishing a system of property rights C. supporting current industries and the jobs they provide instead of adopting new technology that brings disruptive social changes D. developing an educated population