Which of the following is true regarding the use of laboratory experiments in economic analysis?
A. Decisions made in the laboratory differ from those made in the real world.
B. Laboratory experiments introduce no additional influences on decision making.
C. Experimental subjects are often representative of the general population.
D. Economic analysis to date has never successfully employed laboratory experiments.
A. Decisions made in the laboratory differ from those made in the real world.
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Military decisionmakers want to keep procurement costs low in order to increase the likelihood that the program will be approved. As a results, ______
a. maintenance costs on contracted output tend to be higher b. maintenance costs on contracted output tend to be lower c. maintenance costs on contracted output are minimized d. maintenance costs on contracted output are eliminated
If a government runs a cyclically balanced budget, its revenue will equal its expenditure: a. each year
b. at each phase of the business cycle. c. over the course of the business cycle. d. only during expansions. e. only during recessions.
The "Green Dot Program" is
a. an international law to reduce plastics in packaging b. a private plan in Germany for collection and recycling of packaging c. a waste management plan operated by the German government d. a model waste program because of its low start-up and operating costs
Suppose a person defects from Cuba (a country that generally disregards the use of markets) to the United States and asks to see a market in action. Where would you take her? Did you give her a complete showing of this market?