Which of the following is NOT an important determinant of collusion in pricing games?
A. The history of the particular market.
B. The punishment mechanisms that are in place.
C. The number of firms in the industry.
D. None of the answers is correct.
Answer: D
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Charisse is of the opinion that the interest rate depends on the economy's saving propensities and investment opportunities. Most economists would say that Charisse's opinion is
a. Keynesian in nature, and that her view is more valid for the long run than for the short run. b. classical in nature, and that her view is more valid for the long run than for the short run. c. Keynesian in nature, and that her view is more valid for the short run than for the long run. d. classical in nature, and that her view is more valid for the short run than for the long run.
The prisoner's dilemma is a game of strategy:
A. in which people make rational choices that lead to the ideal result for all. B. that leads everyone to be as well off as possible without making another worse off. C. in which people make rational choices that lead to a less-than-ideal result for all. D. that leads people to make irrational choices that lead to the ideal result for all.