Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. Which of the following is the outcome with cooperation?
A) Both confess.
B) Both don't confess.
C) Bob confesses while Harry does not confess.
D) Harry confesses while Bo does not confess.
B
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Patterns of interregional trade are primarily determined by ________ rather than ________ because factors of production are generally ________
A) external economies; natural resources; mobile B) internal economies; external economies; mobile C) external economies; population; immobile D) internal economies; population; immobile E) population; external economies; immobile
Suppose business confidence decreases causing a reduction in investment. Based on our understanding of the model presented in Chapter 3, we know with certainty that a reduction in investment will cause
A) an increase in the multiplier. B) a reduction in the multiplier. C) a reduction in the marginal propensity to save. D) a reduction in consumption as the economy adjusts to this decrease in investment.