Both prisoners realize they will each ______ if they can trust each other to be silent.
a. go free
b. serve one year in prison
c. serve six years in prison
d. serve ten years in prison
b. serve one year in prison
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Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (6) might represent
A. the purchase of armored personnel vehicles by government. B. corporate income tax payments. C. the payment of payroll taxes by households. D. the purchase of basketballs by the Ogallala school district.
For a monopolist that engages in price discrimination, when the price elasticity in market 1 is less (in absolute value) than in market 2, the optimal price in market 1 will exceed the optimal price in market 2
a. true b. false
Other things remaining the same, if a nation's real GDP rises, the demand to hold money:
a. Falls. b. Rises. c. Does not change.
Risky transactions are those in which:
A. complete information is not available. B. there is an balance of information between buyer and seller. C. one party to a transaction uses the other party's lack of information to their advantage. D. one party withholds information from the other party and uses that to his advantage.