The prisoners' dilemma is an example of
A) product differentiation.
B) collusion.
C) game theory.
D) monopolistic competition.
E) decision making in a monopoly.
C
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Which of the following is an example of capital?
A) A cell phone bought by an individual for her younger brother B) A tractor used by a farmer for plowing his field C) A used television set purchased by a family D) Alcoholic beverages served at a corporate event
The large number of bank failures in the 1980s compared to the number of failures in earlier decades appears to be evidence __________ the existence of __________ problem in deposit insurance
A) supporting; a moral hazard B) supporting; an adverse selection C) against; a moral hazard D) against; an adverse selection
A bank's largest liability is its
A) short-term borrowing. B) long-term debt. C) deposits of its customers. D) shareholder equity.
Tom Brady should probably NOT mow his own lawn because
a) his opportunity cost of moving his lawn is higher than the cost of paying someone to mow it for him b) he has a comparative advantage in mowing his lawn relative to a landscaping service c) he has an absolute advantage in mowing his lawn relative to a landscaping service d) he might sprain his ankle