Suppose that the level of GDP increased by $100 billion in a private closed economy where the marginal propensity to consume is .5. Aggregate expenditures must have increased by:

Which of the following is not a characteristic of a prisoner's dilemma game?

A) Defecting is a dominant strategy for each player. B) Each player has two strategies: cooperate or defect. C) There is a single Nash equilibrium. D) The Nash equilibrium is the best outcome for each individual and for the grou

Which of the following has been suggested as reasons for Mexico's slow economic growth?

A) Mexico's long-ruling PRI political party B) Mexico's Spanish colonial background C) Mexico's legal restrictions on the financial sector D) all of the above