In the IS-LM model, changes in taxes initially affect planned expenditures through:
What will be an ideal response?
consumption.
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
To maximize her utility, Pat should spend all of her money and buy goods in a way that
A) the marginal utility of the last unit of each good is the same. B) the marginal utility per dollar from each good is the same. C) her total expenditure on each good is the same. D) her price elasticity of demand for each good is the same.
What is meant by the prisoners' dilemma? Do the players in the prisoner's dilemma game have a dominant strategy?
What will be an ideal response?
What makes a technology "inappropriate"? Why might it be used anyway?
What will be an ideal response?