Mutually Assured Destruction was a standing policy during the Cold War, in which the United States and the USSR maintained and expanded nuclear arsenals beyond practical levels. What could explain such a phenomenon?
A) insane public officials who were bent on world domination
B) a prisoner's dilemma
C) a leader-follower type game
D) tacit collusion
B
Economics
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Which of the following is an example of a negative externality (additional social cost)?
A. an increase in the value of land you own when a nearby development is completed B. the costs paid by a company to build an automated factory C. the higher price you pay when you buy a heavily advertised product D. falling property values in a neighborhood where a disreputable nightclub is operating
Economics
In an open economy, the price of a bushel of corn is ________.
A. $3 B. $7 C. $5 D. $1
Economics