The problem for the prisoners in the prisoners' dilemma game in the above table is that

A) the Nash equilibrium is not the best outcome.
B) there is no equilibrium outcome.
C) neither prisoner has a workable strategy.
D) None of the above answers is correct.

A

Economics

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Suppose the government has a budget deficit of $2 billion. If the Ricardo-Barro effect is correct, then how much crowding out of investment occurs?

A) exactly equal to $2 billion dollars B) more than $2 billion C) some crowding out occurs, but less than $2 billion D) No crowding out occurs and investment does not change. E) No crowding out occurs because investment increases by $2 billion.

Economics

A product is likely to have a price elasticity of demand that exceeds 1 when

A) its price falls. B) the percentage of income spent on it decreases. C) it is a necessity. D) it has close substitutes.

Economics