A prisoner's dilemma is
A) stable.
B) the best equilibrium possible.
C) inefficient.
D) efficient.
C
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If the total revenue collected by the federal government in a particular year is $1.2 billion and the total amount spent by the government during the same year is $3.8 billion, what is the budget deficit?
A) $1.6 billion B) $2.6 billion C) $2.2 billion D) $5 billion
It's not unusual for strangers driving through a small town to find a gas station more quickly than people driving through a major city center
According to the economic way of thinking, gas stations in city centers appear few and far between because A) big cities are just plain confusing to out-of-towners. B) the real estate space available for gas stations has more valuable alternative uses. C) the opportunity cost of placing additional gas stations in city centers is too low. D) the owner of gas stations would rather have people drive further distances and thereby use more gasoline.