In repeated games:
A. players no longer need commitment strategies to reach a mutually beneficial equilibrium.
B. players will never reach a mutually beneficial equilibrium.
C. there are no dominant strategies.
D. negative-negative outcomes are the only outcomes possible.
A. players no longer need commitment strategies to reach a mutually beneficial equilibrium.
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In the foreign exchange market, the demand for dollars increases and the demand curve shifts if the
A) U.S. exchange rate falls. B) expected future exchange rate falls. C) U.S. interest rate differential decreases. D) U.S. exchange rate rises. E) U.S. interest rate differential increases.
If the demand for a good is increasing while the supply curve remains unchanged, then we will observe
A) more purchases at a higher price. B) more purchases at a lower price. C) fewer purchases at a higher price. D) fewer purchases at a lower price.
Why would an economist argue that tuition is not the largest cost of attending a state university?
What will be an ideal response?
Autarchy as used in the text refers to
(a) an economy that does not trade. (b) an economy that trades primary products in exchange for manufactures. (c) developing country dictatorships. (d) the caste system and related social structures.