In the circular-flow diagram, factors of production include land, labor, and capital

In a tit-for-tat strategy, a player

A) randomly punishes its rival. B) ensures that the joint profit is maximized in each round. C) copies the action of its rival's prior move in the subsequent rounds. D) maximizes the joint profit in the game.

In the open-economy macroeconomic model, other things the same, when a U.S. resident imports a foreign good, the demand for dollars in the foreign-currency exchange market decreases

a. True b. False Indicate whether the statement is true or false