Refer to Figure 4.1. The game described in the payoff matrix has the characteristics of a(n) ________ game
A) prisoner's dilemma
B) pure coordination
C) battle of the sexes
D) assurance
A
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The lower the price, the lower the consumer surplus, all else equal
a. True b. False Indicate whether the statement is true or false
Distinguish between invention and innovation.
What will be an ideal response?
More detailed financial instruments tend to be:
A. more costly because it will cost more to create. B. less costly because they can be standardized more easily. C. more desirable than less detailed ones, no matter what the price. D. less costly because all possible contingencies are covered.
Answer the following statements true (T) or false (F)
1) 1 + MPS = MPC. 2) The slope of the consumption schedule is measured by the MPC. 3) A decline in the real interest rate will shift the investment demand curve to the right. 4) A specific investment will be undertaken if the expected rate of return, r, exceeds the interest rate, i. 5) Investment is highly stable; it increases over time at a very steady rate.