The identity stating that the total amount spent on final output equals the amount received for final output is known as the
A) equation of exchange.
B) circular flow identity.
C) identity equation.
D) fundamental law of economics.
A
Economics
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A "Prisoners' Dilemma" game demonstrates how ____ is often rational for individuals even though ____
a. the failure to cooperate; cooperation would make everyone worse off b. the failure to cooperate; cooperation would make everyone better off c. cooperative behavior; cooperative behavior might make everyone worse off d. All of the above can be demonstrated with a "Prisoners' Dilemma" game.
Economics
The present value of an asset and the rate of interest
a. are not related b. are related inversely c. cannot change in opposite directions d. are equivalent e. are directly related
Economics