When duopoly games are repeated and a "tit for tat" strategy is used,
A) the competitive outcome is more likely to be reached than when the game is played once.
B) the monopoly outcome is more likely to be reached than when the game is played once.
C) both firms begin to incur economic losses.
D) one firm goes out of business.
E) Because the game is repeated, it is impossible to predict whether the competitive or the monopoly outcome is more likely.
B
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The aggregate demand multiplier effect says that an initial increase in expenditure plans leads to an induced
A) increase in consumption expenditure. B) increase in production expenditure. C) increase in government expenditures on goods and services. D) decrease in the price level. E) increase in exports.
Those who view education as a sorting mechanism emphasize that employers value
a. the skills that people who attend college have already acquired before they enter college. b. the docility and deference to authority learned in the classroom. c. the analytic ability of the highly educated worker. d. the work habits picked up in the home and school.