Because the players are prevented from cooperating, each player in a prisoners' dilemma game has a dominant strategy that leaves ________ than if they could cooperate.
A. them both better off
B. the first player to confess worse off and the other player better off
C. them both worse off
D. the first player to confess better off and the other player worse off
Answer: C
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Because the United States is highly integrated with the international capital market, international capital flows tend to
A. counteract the negative effect on aggregate demand of lower interest rates. B. counteract the positive effect on aggregate demand of higher interest rates. C. strengthen the negative effects on aggregate demand of higher interest rates. D. strengthen the negative effects on aggregate demand of lower interest rates.
In a pure coordination game, as long as the players coordinate on an outcome, it does not matter what that outcome is
Indicate whether the statement is true or false
The Phillips curve
a. illustrates the economy's production possibilities b. measures the Fed's willingness to stick with a particular interest rate target c. represents the Fed's choices between inflation and unemployment d. demonstrates the need for a zero inflation rate e. explains the natural rate of unemployment
The increase in the proportion of women in the labor force causes GDP to _____ the growth in economic well-being because _____.
A. overstate; some of the services that women formerly provided in the home are now purchased in the market B. overstate; the services that women provide in the home do not contribute to economic well-being C. understate; some of the services that women formerly provided in the home are now purchased in the market D. understate; the services that women provide in the home do not contribute to economic well-being