In the Prisoners' Dilemma,with Players Art and Bob,the Dominant Strategy

question 33

Multiple Choice

In the prisoners' dilemma,with players Art and Bob,the dominant strategy equilibrium is that

• A)both prisoners confess.
• B)neither prisoner confesses.
• C)Art denies and Bob confesses.
• D)indeterminate.
• E)Bob denies and Art confesses.

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Definitions:

Price Index

An index number that shows how the weighted average price of a market basket of goods changes through time.

Market Basket

A selected set of goods and services used to track changes in prices and inflation over time.

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time, typically measured annually.

Labor Force

The segment of the working-population that is actively engaged in or seeking employment, reflecting the availability of labor in an economy.