The marginal rate of substitution between two goods always equals the
a. marginal utility of one divided by the marginal utility of the other.
b. marginal utility of one times the marginal utility of the other.
c. price of one good divided by the price of the other.
d. Both a and c are correct.
a
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The strategy that worked best in Axelrod's experiments using the Prisoners' Dilemma game was to
A) play the "cooperate" ("don't confess") strategy. B) play the "defect" ("confess") strategy. C) alternate between "cooperate" and "defect" strategies. D) play the "cooperate" strategy at first, and from then on do whatever the other player did in the previous round, cooperating if the other player did, and defecting if the other player did. E) play the "cooperate" strategy in the first round, and from then on cooperate so long as the other player does, but if the other player defects, then play the "defect" strategy from that time forward.
Agriculture is a sector of the economy where increased productivity has been accompanied by a significant decrease in employment.
Answer the following statement true (T) or false (F)
After the First World War, Germany experienced an economic condition that can be best described as:
A. unanticipated inflation. B. cost-push inflation. C. hyperinflation. D. anticipated inflation.
Which issue type of environmental problem is least-easily solved?
A. One that is entirely confined to a single property owned by an individual. B. One that is global. C. One that is entirely confined to a single community. D. One that is entirely confined to a single country.