In game theory, behavior that results in cooperation as long as the other players continue to cooperate, is referred to as
A. opportunistic behavior.
B. nice behavior.
C. tit-for-tat strategic behavior.
D. simple behavior.
Answer: C
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If the multiplier is 10 and income increases by $1000, then saving will increase by
A) $90. B) $900. C) $100. D) $1000.
Some nations that seek to produce all of their own needs face the problem that
a. people don't want a wide variety of choices when buying. b. some industries are too small to be efficient. c. other countries may want to buy from them. d. All of the above are true.
Whenever technology advances, an economy can produce more output with
A. More resources. B. No resources. C. Current resources. D. Fewer resources.
Briefly explain the concept and operation of a fixed exchange rate. How can the government keep the value of the exchange rate within the fix?
What will be an ideal response?