Refer to the payoff matrix. Which of the following statements is true regarding the outcome of this game?
A. Both firms will price high, and this outcome is a prisoner's dilemma.
B. Both firms will price low, and this outcome is a prisoner's dilemma.
C. Both firms will price high, but this outcome is not a prisoner's dilemma.
D. Both firms will price low, but this outcome is not a prisoner's dilemma.
B. Both firms will price low, and this outcome is a prisoner's dilemma.
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Historically, the AMT has always affected a significant number of taxpayers
a. True b. False
Macroeconomics emerged as a separate subject largely in response to:
A. Irving Fisher's development of the quantity theory of money. B. Adam Smith's The Wealth of Nations. C. John M. Keynes's explanation of business cycles. D. Alfred Marshall's distinction between the long run and short run.
If demand is represented as Qd = 20 - 3P and supply is represented as Qs = 4 + 5P, the equilibrium quantity is
A. 2. B. 3. C. 7. D. 14.
Refer to the given diagram and assumptions. We would expect a flow of remittances from migrants to:
(1) The demand for labor in Alphania and Betania are as shown by D A and D B ,
respectively; (2) Alphania's native labor force is F and that of Betania is g; (3) wage L in Alphania is equal to wage m in Betania; and (4) full employment exists in both countries.
A. decrease the national income loss in Betania.
B. increase the national income gain in Betania.
C. decrease the national income loss in Alphania.
D. decrease the national income gains in both countries.