____ is one in which exactly the amount one competitor gains must be lost by other competitors
a. Nash equilibrium
b. Prisoner's dilemma
c. A win-win situation
d. A zero-sum game
d
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In a prisoner's dilemma game, each person will pick
A) their best outcome given what the other person will do. B) their best outcome. C) their worse outcome. D) their best outcome after consulting with the other person.
A person has an absolute advantage in producing a good if he can
a. produce it using fewer resources than another person b. produce it while sacrificing less than another person in terms of foregone output c. corner the market d. use other peoples' money to produce it e. work out some long term payment plan for financing the good
Which of the following is true?
a. A stockholder owns part of the corporation. b. A stockholder has loaned money to the corporation. c. A stockholder is owed money by the corporation. d. A stockholder must be consulted on all major decisions.
Those economists who argue that a significant amount of crowding out exists believe that the impact of expansionary fiscal policy will be _________________ by the crowding out. Their reasoning is that if the government increases purchases, and finances that spending by borrowing money, spending in the private sector will _______________, leading ultimately to _____________ in aggregate demand
A) strengthened; fall; little or no change B) strengthened; rise; a significant rise C) weakened; fall; little or no change D) weakened; rise; a significant rise