People do not usually behave in a noncooperative fashion even when it is in their immediate interest to do so because

A) they realize such behavior is immoral.
B) they know there can be 2 winners.
C) they know they will have repeated dealings with the other people.
D) they understand the difficulties with game theory.

C

Economics

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Suppose Molly has an income of $35,000 annually and has inherited a savings account of $20,000. Wyatt has a job that pays $35,000 annually, but has debts totaling $6,000. Which of the following is TRUE?

A) We can expect Wyatt and Molly to save the same proportion of their incomes this year. B) We can expect Molly to save more than Wyatt this year. C) We can expect Wyatt to save more than Molly this year. D) We can expect Wyatt and Molly to have equal amounts of consumption this year.

Economics

Income tax on the wealthy to finance the welfare for the poor causes income redistribution. This is an example for the trade-off

A) Which goods and services to produce. B) How to produce. C) Who gets the goods and services. D) Who produces the goods and services.

Economics