Suppose that the marginal propensity to consume (MPC) is .75 and there is an increase in investment spending of $100,000. As a result, equilibrium real Gross Domestic Product (GDP) would increase by

Economists often refer to games with more than three players as

A) complex games. B) n-player games. C) games of infinity. D) global games.

Which of the following is an example of a Pigovian tax?

A) a tax imposed on a utility that internalizes the cost of externalities caused by the utility B) payments by utilities to obtain tradable emission allowances C) payments for licenses to pollute D) a payroll tax