
Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin
Edition 7ISBN: 978-0134018959
Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin
Edition 7ISBN: 978-0134018959 Exercise 5
If you play poker with a group of friends, you are playing what is called a zero-sum game. What you win, they lose and vice versa. The sum of the funds that you start with together does not change. All that changes is who owns more or less of that sum at the end of your poker game. Many commentators (and politicians, too) believe that wealth creation is a zero-sum game. Is this a correct analogy? Why or Why not?
Explanation
According to game-theory and economic-th...
Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin
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