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When suspects are interviewed in different rooms, they do not know what the other suspects are going to do and hence seek the best deal for themselves. This illustrates:
British Pound
The currency of the United Kingdom, often symbolized as £ and known officially as the pound sterling.
Economic Boom
A period of significant economic growth, expansion, and prosperity.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Purchasing Power Parity Theory
An economic theory that states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.
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