The effective coordination of social behavior through voluntary exchange depends significantly upon
A) clearly defined property rights.
B) such civic virtues as courtesy and tolerance.
C) well-established and generally accepted rules regarding behavior.
D) all of the above.
D
Economics
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A twelve pack of soda sells for $3.50. At a $3.50 price, you plan to purchase two twelve packs. Therefore,
A) your quantity demanded is two twelve packs. B) your demand is two twelve packs. C) you need two twelve packs. D) you love soda.
Economics
Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. If Bob does not confess, what is the best strategy for Harry?
A) Confess. B) Don't confess. C) Flip a coin to decide what to do. D) There is no best strategy.
Economics