A game where it only matters that the players work together to agree on an outcome, not which outcome they agree upon, is called
A) a pure coordination game.
B) a prisoner's dilemma game.
C) an assurance game.
D) a battle of the sexes game.
A
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In the United States, the size of the underground economy is estimated to be as much as $2 trillion
Indicate whether the statement is true or false
The economics of slavery suggests that
(a) slave labor produced efficiencies in Southern agriculture. (b) slave owners possessed economic incentives to beat and exploit their slaves. (c) Southern agriculture was less profitable than northern farming. (d) Southern agriculture was just and moral.
The substitution effect is the concept that changes in consumption of a good result from changes in the relative price of a jointly consumed good
a. True b. False Indicate whether the statement is true or false
According to the rational expectations hypothesis, an individual's assessment of future economic performance
A. does not consider past performance. B. considers both past performance and current economic policy actions. C. only considers past performance. D. does not consider the impact of inflation.