The prisoners' dilemma naturally leads prisoners to the best possible outcome.
Answer the following statement true (T) or false (F)
False
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Economic theory assumes people
A) rarely act generously. B) consistently act selfishly. C) make choices based on a comparison of cost and benefits. D) are fundamentally complex. Therefore, no general theory can be deduced to make sense out of the decisions and choices people make.
The political process can impede redistribution goals because _____
a. there are more stingy voters than generous voters b. there are more middle class voters than poor voters c. there are more dumb voters than smart voters d. there are more middle class politicians than poor politicians
Use the concept of economic rent to explain how rent controls could have an effect quite opposite to the intention
If the natural rate of unemployment equals 4 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:
A. 10 percent. B. 2 percent. C. 6 percent. D. ?2 percent.