The "dilemma" in the prisoners' dilemma is that, under certain circumstances,
What will be an ideal response?
it is in each person's interest to choose in a way that produces results in no one's interest.
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If an economy is producing on its PPF, then it is definitely achieving
A) both production and allocative efficiency. B) only production efficiency, but it definitely is not achieving allocative efficiency. C) only allocative efficiency, but it is definitely not achieving production efficiency. D) neither production nor allocative efficiency. E) only production efficiency.
The marginal cost of a vacation in Jamaica is $3,000 . The marginal benefit to Jordan of a vacation in Jamaica is $3,500. a. According to the rule of rational choice, Jordan should choose not to vacation in Jamaica at this time
b. According to the rule of rational choice, Jordan will experience a net gain of $500 if he vacations in Jamaica. c. According to the rule of rational choice, Jordan will experience a net gain of $3,500 if he vacations in Jamaica. d. According to the rule of rational choice, Jordan will experience a net gain of $3,000 if he vacations in Jamaica.
Members of the top quintile of income earners in every country today:
A. earn disproportionately more than those in the bottom quintile. B. earn disproportionately less than those in the middle quintile. C. earn disproportionately less than they did 100 years ago. D. All of these are true.
How does a bank make most of its profit on its business?
(A) By paying out less in interest on deposits than it earns in interest on loans. (B) By receiving fees from the government for handling federal and state accounts. (C) By collecting fees on safety deposit boxes, travelers' checks, and certified checks. (D) By collecting fees on credit card purchases.