All of the following are traditional economic views except:
A. revealed preference shows researchers what the bad choices are.
B. choice architects have a responsibility to remain neutral when it comes to choices.
C. choice architecture is ineffective.
D. there is no such thing as a bad choice.
Answer: B
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To be a member of the Internal Monetary Fund a nation must deposit funds based on
A) the need to loan money to developing nations. B) its national income. C) the amount of funds it wants to deposit. D) rules set up by the World Bank.
During the 100 years before the Revolutionary war, shipping costs were reduced by nearly:
a. 10 percent. b. 25 percent. c. 50 percent. d. 70 percent. e. Shipping costs increased during that period.
Economists compute the price elasticity of demand as the
a. percentage change in price divided by the percentage change in quantity demanded. b. change in quantity demanded divided by the change in the price. c. percentage change in quantity demanded divided by the percentage change in price. d. percentage change in quantity demanded divided by the percentage change in income.
The following factors help explain the instability of investment, except:
A. Business expectations can quickly change for unpredictable reasons B. Innovations in the economy occur quite irregularly C. Profits of firms are highly variable from one period to the next D. Purchases of capital goods are usually nondiscretionary and cannot be postponed