The prisoner's dilemma is used to analyze business situations in which one firm acts first and then other firms respond
Indicate whether the statement is true or false
FALSE
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The World Trade Organization provides for all of the following EXCEPT
A) the usage of the most favored nation clause. B) assistance in the settlement of trade disagreements. C) bilateral tariff reductions. D) multilateral tariff reductions. E) the prevention of nontariff interventions in trade.
If you will receive $5,000 two years from today, what is its present value if the discount rate is 5 percent?
a. $5,025 b. $4,500 c. $3,429 d. $4,535 e. $4,762
If demand is price inelastic, a decrease in price
a. raises total revenue to the seller b. raises total expenditure on the good, but not total revenue to the seller c. reduces total revenue to the seller d. leaves total revenue to the seller unchanged e. leaves total expenditure on the good unchanged
In the early 1980's the Fed tightened monetary policy. Over the next few years
a. inflation remained high and unemployment rose. b. inflation fell but unemployment rose temporarily. c. inflation and unemployment fell. d. inflation and unemployment rose.