Evidence suggests that, in the real world, people appear to care about fairness
a. only when it coincides with their own self-interest.
b. only when it coincides with their determination to be consistent over time.
c. even when it does not coincide with their own self-interest.
d. not at all.
c
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If a country lacks ________, economic growth ________
A) a democratic form of government; cannot occur B) a proper incentive system; cannot occur C) pure capitalism; will be slower compared to other countries D) a proper incentive system; will occur at a pace suggested by the new growth theory E) economic freedom; will increase at a faster pace
The "new economy" that emerged in the mid-1990s is based on
A) manufacturing. B) information technology. C) financial services. D) retail sales.
The government has used the Sherman Act to break up monopolies in which of the following industries?
A. Coal B. Fishing C. Trucking D. Tobacco
A profit-maximizing firm always
A. sells its output at P = MC. B. produces at the output at which MR is maximized. C. hires labor until the MRP of labor < 0. D. finds the output where marginal profit is zero.