In game theory, behavior that results in cooperation as long as the other players continue to cooperate, is referred to as

If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent, your rate of economic profit is

a. zero. b. 10 percent. c. 23 percent. d. 36 percent.

For a closed economy, GDP is $12 trillion, consumption is $7 trillion, taxes net of transfers are $3 trillion and the government runs a deficit of $1 trillion. What are private saving and national saving?

a. $5 trillion and $3 trillion, respectively b. $5 trillion and $1 trillion, respectively c. $2 trillion and $3 trillion, respectively d. $2 trillion and $1 trillion, respectively