In a typical prisoner's dilemma with two prisoners, the prisoners will serve the least number of years in prison if both of them confess their crimes
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 11-1. In a diagram that shows the marginal product of labor on the vertical axis and labor on the horizontal axis, the marginal product curve
A) never intersects the horizontal axis. B) intersects the horizontal axis at a point corresponding to the 5th worker. C) intersects the horizontal axis at a point corresponding to the 6th worker. D) intersects the horizontal axis at a point corresponding to the 8th worker.
Consumer surveys suggest that families with less than $500 in a bank during the last five years confidently anticipate a comfortable retirement
Indicate whether the statement is true or false
If the MPS = .25, and investment falls from $100 to $75, real GDP will decrease by:
a. $25. b. $75. c. $150. d. $125. e. $100.
Perfect Competition is an industry in which there is only one supplier of a product that has no close substitutes
a. True b. False Indicate whether the statement is true or false