The prisoner's dilemma can be summarized in:
A. a flowchart.
B. a strategy tree.
C. a decision matrix.
D. a strategy matrix.
Answer: C
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Keeping an extra $200 in your checking account to pay for possible car repairs illustrates the
A) speculative demand for money. B) transfer demand for money. C) precautionary demand for money. D) transactions demand for money.
Referring to a production possibilities curve and the goods being compared, depict the economic event. Millions of immigrants came to the United States in the second half of the 19th century to work on the transcontinental railroad (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on or near the curve B. A movement from a point on or near the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward)
The national debt is unlikely to cause national bankruptcy because the:
A. national debt can be refinanced by issuing new bonds. B. interest on the public debt equals GDP. C. national debt cannot be shifted to future generations for repayment. D. federal government cannot refinance the outstanding national debt.
A union may negotiate limits on workload in order to increase the demand for labor and raise workers' salaries. This practice is known as:
A. featherbedding. B. human capital formation. C. monopsonistic bargaining. D. artificial demand stimulus.