A strategy that limits defection in a repeated prisoner's dilemma game is:
A. a cartel.
B. a tit-for-tat strategy.
C. a Nash equilibrium.
D. an ultimatum bargaining game.
Answer: B
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Which of the following is true regarding income along a price-consumption curve?
A) Income is increasing. B) Income is decreasing. C) Income is constant. D) The level of income depends on the level of utility.
If there is unrest in the Middle East, and Saudi Arabian investors purchase German securities, the
A) demand for Saudi Arabian currency will fall. B) demand for Saudi Arabian currency will rise. C) supply of Saudi Arabian currency will fall. D) supply of Saudi Arabian currency will rise.
If the price of a good decreases, the resulting increase in the quantity purchased decreases the marginal utility of the good
a. True b. False Indicate whether the statement is true or false
When box office receipts are corrected for inflation, the most popular movie of all time is
a. Star Wars. b. Titanic. c. Gone With the Wind. d. The Sound of Music.