In a typical prisoner's dilemma with two prisoners, confessing is the dominant strategy for both prisoners
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is the BEST example of a private good?
A) a can of Mountain Dew B) fish in the ocean C) cable television D) national defense
If we include consideration of potential effects of a proposed tax reduction and simplification on the labor supply, we would expect crowding out of investment and net exports brought about by the tax cut to be
A) increased as aggregate real income and output rise in the long run. B) unaffected by the shifting long-run aggregate supply curve. C) dependent upon the impact of this tax change on consumer disposable income. D) less than it would be without the supply-side effects.
Technical progress will:
a. shift a firm's production function and its related cost curves. b. not affect the production function, but may shift cost curves. c. shift a firm's production function and alter its marginal revenue curve. d. shift a firm's production function and cause more capital (and less labor) to be hired.
Public saving is equal to national saving minus private saving
a. True b. False Indicate whether the statement is true or false