The owner of a good has the right to decide how that good is used and to restrict others from using that good. This idea is known as:
a. the principle of mutual excludability.
b. the principle of comparative advantage.
c. the principle of public ownership.
d. the principle of negative externalities.
e. the law of demand.
a
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If the government increases spending without a tax increase and simultaneously no monetary policy changes are made, which of the following will most likely occur?
a) income would not rise at all because no new money in available for increased consumer spending b) the rise in income may be greater than the multiplier would predict because the higher interest rates will stimulate investment spending c) the rise in income may be smaller than the multiplier would predict because the higher interest rates will crowd-out private investment spending d) income will go up by exactly the amount of the new government spending since this acts as a direct injection to the income stream e) income will not go up unless taxes are cut as well
What kind of game is shown in Scenario 13.11?
A) Axelrod's Paradox B) Stackelberg Match C) Prisoners' Dilemma D) Cournot's Duopoly Game E) It is not possible to tell what kind of game it is because the strategies have not been identified.