Which of the following statements concerning the prisoner's dilemma is TRUE?
A) The player who moves last will always win.
B) Confessing is the dominant strategy for both players.
C) Neither player will pick the dominant strategy.
D) The player who moves first will always win.
Answer: B
Economics
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An economy with only the household and firm sectors is called:
A) a mixed economy. B) a private economy. C) a command economy. D) none of the above.
Economics
When the economy is in a liquidity trap, which of the following is not correct?
A) A reduction in the interest rate can be used to increase output. B) Fiscal policy is more important. C) Interest rate is zero. D) Large increases in spending and cuts in taxes were not enough to avoid the recession.
Economics