Refer to the game in Scenario 13.7. If each player chose a maximin strategy, the outcome would be

One way to view equilibrium in the simple Keynesian model without government spending and taxes is that:

A) saving equals planned investment. B) saving equals planned expenditures. C) saving equals planned autonomous spending. D) None of the above.

The greater is the absolute price elasticity of demand, the

A) larger is the responsiveness of quantity demanded to the price change. B) smaller is the responsiveness to a price change. C) larger is the income of the buyer. D) higher is the change in demand to an income change.