In a two-person repeated game, a tit-for-tat strategy is
a. When each player pursues his or her own self-interest without any cooperation
b. When players start off as non-cooperative and then cooperate when one or both players show interest in colluding
c. When players start off by cooperating and then mimic the other player's last move
d. With neither players defecting
c
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Which of the following are typically financed in the loan market?
i. a mortgage for a house iii. credit card balances iii. the purchase of a share of stock in a corporation. A) i only B) i and iii C) ii and iii D) i, ii and iii E) i and ii
A textile manufacturing unit faces low productivity due to shirking by workers. Which of the following is a possible solution to increase productivity and retain employees?
A) The provision of a lower real wage B) The provision of a lower nominal wage C) The provision of minimum wages D) The provision of efficiency wages