In order to get children to eat all the food they've served, regardless of their hunger, mothers have relied for decades on the argument that "there are starving children in Africa." Assuming the presence of hungry children on another continent does not affect the utility you derive from the food on your plate, if you choose to force down food based on this argument, you are:
A. acting rationally.
B. caring more about starving children than your own well-being.
C. acting irrationally.
D. doing your part in the fight against world hunger.
C. acting irrationally.
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What will be an ideal response?
Refer to Scenario 14.1. Lisette's dominant strategy will give her a net benefit of
A) $45. B) $75. C) $120. D) $150.
C = $5 million + 0.9(1 - 0.1)Y I = $7 million G = $6 million NX = $1 million Based on the above data, the value of the expenditure multiplier is
A) 1.23. B) 5.26. C) 9.09. D) 11.11.
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