The prisoner's dilemma shows that
A) players are better off if they act independently.
B) monopolies are beneficial to society.
C) people will always cheat.
D) players would be better off if they cooperated.
D
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Suppose the peso-dollar foreign exchange rate changes from 50 pesos per dollar to 30 pesos per dollar. Then the peso has ________ against the dollar and the dollar has ________ against the peso
A) appreciated; depreciated B) appreciated; appreciated C) depreciated; appreciated D) depreciated; depreciated
The U.S. market for interbank borrowing and lending is called the:
a. Federal funds markets. b. Secondary market. c. Money market. d. Real Goods Market. e. Primary market.
If the multiplier is greater than 1 an initial (autonomous) decrease in aggregate demand will be
A. Equal to the eventual decline in spending. B. Offset by an increase in planned investment. C. Much larger than the eventual decline in spending. D. Much smaller than the eventual decline in spending.
The combined impact of the labor pool effect of globalization for low-skilled workers and the market expansion effect of globalization for high-skilled workers is
A. falling income inequality, since one effect helps those with low incomes and the other effect hurts those with high incomes. B. rising income inequality, since one effect helps those with high incomes and the other effect hurts those with low incomes. C. stable income inequality, since one effect helps those with low incomes and the other effect helps those with high incomes. D. stable income inequality, since one effect hurts those with low incomes and the other effect hurts those with high incomes.