Problems with collective decision-making and economic inefficiency in government are subjects that are studied in an area of economics called public:
A. Finance
B. Choice
C. Policy
D. Interest
B. Choice
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Which of the following demonstrates the endowment effect?
A) If you received a good as a gift, you are less likely to attach a monetary value to the good. B) Isabella was not willing to part with her "Chris Hemsworth" poster although she was offered $100 for it, a sum greater than what it costs to purchase another such poster. C) Chris Hemsworth commands a premium in the movie industry because he is endowed with dashing looks. D) Whelan inherits a cottage in Cape Cod from his grandfather and is unwilling to sell it for sentimental reasons.
Imposing a restrictive quota on imported plasma TVs will:
a. increase the price of the plasma TVs and decrease the quantity consumed. b. increase both the price of the plasma TVs and the quantity consumed. c. leave the price of the plasma TVs unchanged but decrease the quantity consumed. d. leave the price and the quantity consumed of plasma TVs unchanged, because domestic producers will expand production to make up for the reduction in imports
Among the components of each NPDWR is
a. the minimum contaminant level b. a secondary maximum contaminant level to protect public welfare c. a National Contaminant Occurrence Database (NCOD) d. the maximum contaminant level goal (MCLG)
Which statement is true?
A. Only the poor are hurt by inflation. B. During times of inflation the nominal interest rate is considerably higher than the real interest rate. C. People living on fixed incomes are generally helped by inflation. D. None of the statements are true.