The "prisoner's dilemma" is a result of
a. differentiated products
b. large number of participants
c. game theory
d. certain outcomes
e. open market entry
C
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The gold standard is an example of
A) the Bretton Woods System. B) a floating exchange rate system. C) a managed float exchange rate system. D) a flexible exchange rate system. E) a fixed exchange rate system.
A monopolistic competitive firm’s quantity produced is which of the following?
a. Greater than a monopolist but less than a perfect competition firm b. Less than a monopolists but greater than a perfect competition firm c. Greater than a monopolists and greater than a perfect competition firm d. Less than a monopolists and less than a perfect competition firm
A monopoly:
A. is constantly threatened by the entry of new firms. B. is constrained by demand. C. is constrained because its decisions cannot affect market price. D. faces a horizontal demand curve.
Contractionary monetary policy is achieved? by:
A) decreasing the amount of bank reserves and lowering the federal funds rate.
B) decreasing the amount of bank reserves and raising the federal funds rate.
C) increasing the amount of bank reserves and lowering the federal funds rate.
D) increasing the amount of bank reserves and raising the federal funds rate.