In the prisoner's dilemma:
a. the outcome obtained when both confess is worse for each than the outcome they would have obtained had they both remained silent.
b. whatever the other does, each is better off confessing than remaining silent
c. we see a conflict between group and individual rationality.
d. all of the above
d
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In the figure above, the SLF curve is the supply of loanable funds curve and the PSLF curve is the private supply of loanable funds curve
Given these curves, there is a government budget ________ and therefore the real interest rate is ________ than it would be otherwise. A) deficit; lower B) surplus; lower C) deficit; higher D) surplus; higher E) deficit; not different
Why do you suppose that South-South trade does not conform in volume, but does conform in pattern with expectations generated by the Heckscher-Ohlin model?
What will be an ideal response?
Soft budget constraints is an idea of:
a. Mises b. Schumpeter c. Kornai d. Keynes e. Smith
All other things unchanged, we expect that an increase in interest rates will tend to
A) increase the quantity of money demanded and increase velocity. B) increase the quantity of money demanded and reduce velocity. C) reduce the quantity of money demanded and increase velocity. D) reduce the quantity of money demanded and reduce velocity.