The prisoner's dilemma is a game in which:
a. the gains from pursuing self-interest are greater than the gains from cooperation
b. the gains from cooperation are greater than the gains from pursuing self-interest.
c. the gains from pursuing self-interest are greater for a smaller firm than for a larger firm.
d. the gains from pursuing self-interest are greater for a larger firm than for a smaller firm.
b
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A society that is producing on its production possibilities frontier is
A) not utilizing all of its resources. B) not being technologically efficient. C) producing too much output. D) fully utilizing all of its productive resources.
Netflix, an online DVD rental service, was established in 1997. In 2010, Netflix has more than 10 million subscribers. This technology has ________ in the labor market for computer software programmers
A) decreased demand B) increased supply C) decreased supply D) increased demand
According to new Keyneisan theory, real wages are _____ correlated with employment and the portion of the population that is not in the labor market _____ with higher real wages
a. positively; rises. b. negatively, does not change. c. negatively, rises. d. positively; falls. e. none of the above.
An inflation-induced increase in the effective tax rate on interest income and capital gains results in
a. a leftward shift of the saving schedule. b. a rightward shift of the saving schedule. c. no shift of the saving schedule. d. a rightward shift of the investment schedule.