In the prisoner's dilemma setting for stealing and producing, both participants end up __________, which turns out to be ________________________ stolen. The government _________ make both participants better off by changing the payoff matrix.
A. stealing; better for them than if they had both not; can
B. stealing; worse for them than if they had both not; can
C. not stealing; better for them than if they had both; cannot
D. not stealing; worse for them than if they had both; cannot
Answer: B
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What will be an ideal response?
The Beveridge curve is
A) a positive relationship between unemployment and the inflation rate. B) a positive relationship between the government deficit and aggregate output. C) a negative relationship between the vacancy rate and the unemployment rate. D) a positive relationship between the inflation rate and the nominal interest rate.
Which of the following is likely among the most concentrated industries in the United States?
A) printing and publishing B) soft drinks C) tobacco products D) household vacuum cleaners
The government's decision to come to the aid of farmers was made, in part, because the government feared that
a. farms were becoming too large and inefficient as a result of continuous changes in farm technology b. because food prices had become so high, low-income families were unable to maintain a minimal nutritional diet c. falling farm prices would depress the farm economy and that depression would spread to other sectors of the economy d. price supports would distort farm prices e. insufficient food supplies would be produced to feed a growing population