When suspects are interviewed in different rooms, they do not know what the other suspects are going to do and hence seek the best deal for themselves. This illustrates:
A. the idea of a noncooperative game.
B. that the police are not taking into account the suspects' rights.
C. the idea of a cooperative game.
D. that criminals are irrational.
Answer: A
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When an American college student in Davis, California spends $200 on a pair of Louis Vuitton jeans (a famous French brand), U.S. consumption ________, U.S. net exports ________, and U.S. GDP ________
A) does not change; increases by $200; increases by $200 B) increases by $200; decreases by $200; does not change C) increases by $200; does not change; increases by $200 D) does not change; does not change; does not change E) does not change; decreases by $200; decreases by $200
According to Douglass North (1981, 1993), to knowledgeably understand our present economy or to strategically speculate about its future, it is important to "explain the structure and performance of economies through time."
Indicate whether the statement is true or false