In a two-person repeated game, a tit-for-tat strategy starts with
a. cooperation and then each player mimics the other player's last move.
b. cooperation and then each player is unresponsive to the strategic moves of the other player.
c. noncooperation and then each player pursues his or her own self-interest.
d. noncooperation and then each player cooperates when the other player demonstrates a desire for the cooperative solution.
a
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Greenaqua Corp . was given the exclusive right to produce and sell its newly introduced water purifier for 20 years. The right granted to Greenaqua is an example of a:
A) patent. B) blueprint. C) copyright. D) trademark.
Many extended periods of high actual unemployment above the natural rate have been the result of
A) deliberate government anti-inflationary policy. B) high job turnover. C) mismatches in the labor market. D) unemployment compensation.
Which of the following accurately describes the Fed's inflation target?
A) It is implicit rather than explicit. B) It seeks to maintain an average inflation rate of 2% per year. C) It seeks to keep inflation at 2% all the time. D) Its goal is to achieve zero inflation.
Which of the following statements is correct?
A. Structural unemployment is unemployment resulting from changes in the structure of consumer demand or technology. B. Search unemployment is the broadest unemployment category because it covers all other types of unemployment. C. Frictional unemployment is the result of friction between labor and management over how best to perform work. D. Cyclical unemployment is also called wait unemployment because this unemployment depends on the timing of the business cycle.