In most business situations where firms compete, often they can escape the prisoner's dilemma and reach the most profitable outcome. Which of the following is a reason for this?
A) Most games are repeated games and firms can employ retaliation strategies against those who do not cooperate.
B) Most games are one-shot games so firms learn from their mistakes.
C) Firms are constantly improving their products and anticipating changing consumer tastes.
D) Firms engage in aggressive advertising to overcome the barriers to loyalty.
A
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The optimal level of rights protection is _____
a. zero b. the marginal cost of additional protection equals the market price of the good c. the marginal cost of additional protection equals the marginal benefit of the good d. absolute
Which of the following is responsible for providing currency and cash to banks?
A. The Legislative Branch of government. B. Comptroller of the Currency. C. The Federal Reserve System. D. The U.S. Treasury.
The graph shown demonstrates a tax on buyers. What is the amount of tax revenue being generated from the tax?
A. $48 B. $36 C. $72 D. $96
The GDP gap measures the difference between:
A. NDP and GDP. B. NI and PI. C. actual GDP and potential GDP. D. nominal GDP and real GDP.