Which strategy has been shown to be the most effective strategy to promote cooperation?
A. tit-for-tat
B. grim-trigger strategy
C. low-price guarantee
D. prisoners' dilemma
Answer: A
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Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of coconuts in Costa Rica?
A) 3/8 of a ton of pineapples B) 2/3 of a ton of pineapples C) 1 1/2 tons of pineapples D) 100 tons of pineapples
A demand curve usually has a
a. negative slope because price and quantity demanded are inversely related b. negative slope because as price rises, demand falls c. positive slope because price and quantity demanded are positively related d. positive slope because price and quantity demanded are inversely related e. slope of zero because there is no change along a demand curve when everything else is held constant
In the long run, the unemployment rate is independent of inflation, and the Phillips curve is vertical at the natural rate of unemployment.
Answer the following statement true (T) or false (F)
An economist would describe college fees as
A. an investment in human capital. B. a transfer payment. C. a waste of parents’ money. D. an economic loss.