The Prisoner's Dilemma involves two spies who are held in separate soundproof rooms. But even if the two spies could communicate, what makes it difficult for them to achieve the cooperative solution (both not confessing)?
a. The problem is their lack of information.
b. The problem is that it is a nonzero sum game.
c. The problem is that both spies have incentives to double cross each other.
d. The problem is that all the outcomes are not particularly good for either player.
c
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In the above figure, the economy is currently at point A. Suppose that the money wage rate and the price level both fall by 10 percent. Firms will be willing to supply output equal to
A) less than $16.0 trillion. B) $16.0 trillion. C) more than $16.0 trillion. D) Without more information, it is impossible to determine which of the above answers is correct.
When real GDP increases, this implies that the production of goods and services has risen
a. True b. False Indicate whether the statement is true or false