In the prisoners' dilemma game with Bonnie and Clyde as the players, the likely outcome is
a. a very good outcome for both players.
b. a very good outcome for Bonnie, but a bad outcome for Clyde.
c. a very good outcome for Clyde, but a bad outcome for Bonnie.
d. a bad outcome for both players.
d
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Refer to Mexico and Japan. What is the cost of producing 1 bolt of clothing in Mexico?
a. 6 hours of labor.
b. 2 bushels of food.
c. 3 bushels of imported Japanese food.
d. 4 bolts of imported Japanese cloth.
Ceteris paribus when graphing a relationship refers to
A) letting all the variables change at once. B) changing the origin of the graph. C) holding constant all but two variables. D) rescaling the coordinates.
The difference between net public debt and gross public debt is
A) all government interagency borrowing. B) the interest paid annually on the public debt. C) the amount owed to individuals and firms outside the United States. D) the current year's budget deficit from the amount of public debt at the start of the year.
Paying a wage to an employee that is lower than the employee's marginal revenue product is sometimes referred to as
A) illegal in most states. B) monopolistic exploitation. C) monopsonistic exploitation. D) total exploitation.