A worker's labor supply depends on, among other things, his ability, his preference for the task, and the opportunity cost of his time
a. True
b. False
A
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If a prisoners' dilemma game is played repeatedly, what punishment strategies might the players employ and how does playing the game repeatedly change the equilibrium?
What will be an ideal response?
In economics terminology, the process of accumulating money is investment
a. True b. False Indicate whether the statement is true or false
Economists use the word investment to refer to the portion of income that is:
A. spent on productive inputs, such as factories, machinery, and inventories. B. not immediately spent on consumption of goods and services. C. placed in an individual's savings account. D. in any interest-bearing account.
Among the most difficult costs of crime to evaluate might be the
A. costs of law enforcement activities undertaken because of the crime. B. wages lost due to missed work days following an assault. C. psychological trauma suffered by victims of sexual assault. D. market value of material possessions stolen, damaged, or destroyed.