The tit-for-tat strategy is:
A. one in which both players explicitly agree to compete in the first round of a repeated game, and if one of them cooperates, the other will defect.
B. not effective in prisoner's dilemma type games.
C. one in which a player in a repeated game takes the same action that his or her opponent did in the preceding round.
D. All of these statements are true.
Answer: C
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In the above figure, the relationship between the tax rate and tax revenue is positive and becoming less steep between tax rates of
A) 0 percent and 30 percent. B) 30 percent and 100 percent. C) 0 percent and 100 percent. D) None of the above answers are correct.
The international organization that replaced the General Agreement on Tariffs and Trade (GATT) is the
a. World Bank. b. Export-Import Bank. c. World Trade Organization. d. International Monetary Fund.
Borrowing VCU3 from an online company cause the nation's:
a. Monetary base to rise. b. M2 money supply to rise. c. M2 money multiplier to rise. d. Monetary base to remain the same.
In a given year the nominal growth rate is 7% with inflation and population growth rates of 2% and 1.2% respectively, then real growth rate of GDP per capita is:
A. 3.8%. B. 5.0 %. C. 7.0 %. D. 5.8%.