The tit-for-tat strategy only works for a prisoner's dilemma that:
A. is repeated.
B. is played only one time.
C. does not have a Nash equilibrium.
D. has only one Nash equilibrium.
Answer: A
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The percentage of additional income that will have to be paid in tax is an individual's _____
a. marginal tax rate b. average tax rate c. proportional tax rate d. flat tax rate
The income-expenditure multiplier arises because one person's additional spending becomes another person's additional income that will generate additional:
A. cyclical unemployment. B. spending. C. autonomous expenditure. D. menu costs.
What is the main difference between economic regulation and social regulation?
What will be an ideal response?
A tax system in which the average and marginal tax rates are the same for every level of taxable income and every change in income is an example of
A. progressive taxation. B. proportional taxation. C. premium taxation. D. regressive taxation.