Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
a. Make sure that your competitor clearly understands your actions and intentions
b. Make sure that your competitor keeps guessing about your actions and intentions
c. Make sure you keep your actions and intentions ambiguous
d. All of the above
a
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A fall in autonomous investment will shift the
a. IS curve to the right toward higher interest rates and output. b. LM curve to the right towards lower interest rates and higher output. c. IS curve to the left towards higher interest rates and output. d. None of the above
Airlines offer lower prices to vacationers than to business travelers because
A) of government regulations requiring them to do so. B) business travelers do not care at all about costs. C) business travelers are less flexible in their travel plans than vacationers are. D) airlines know that business travelers enjoy flying more than vacationers do.
Which of the following statements is not true regarding the production function and the production possibilities curve?
A. The production possibilities curve expresses the ability to produce various combinations of goods given the use of all resources. B. A production function tells us the maximum amount of output attainable from the use of all resources. C. Both the production function and the production possibilities curve maximize the amount of output attainable. D. The production function describes the capacity of a single firm, whereas the production possibilities summarizes the output capacity of the entire economy.
The largest expansions in transfer payments at the U.S. federal level have been in Social Seccurity and Medicare.
a. true b. false