Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for $325 or $400
Krueger found that (a) 94 percent of those surveyed would not have paid $3,000 for their tickets, and (b) 92 percent of those surveyed would not have sold their tickets for $3,000. These results are evidence of
A) the high value fans place on watching the Super Bowl in person, rather than on television.
B) the failure of consumers to ignore sunk costs.
C) consumers being overly optimistic about their future behavior.
D) the failure of consumers to take into account nonmonetary opportunity costs.
D
You might also like to view...
For the past several decades, the U.S. M1 multiplier has been between
A) 1.0 and 2.0. B) 2.5 and 3.0. C) 3.0 and 6.0. D) 6.5 and 10.0.
This method of financing government spending is frequently called printing money because high-powered money (the monetary base) is created in the process
A) financing government spending with taxes B) financing government spending through a Treasury sale of bonds that are then purchased by the Fed C) financing government spending by selling bonds to the public, which pays for the bonds with currency D) financing government spending by selling bonds to the public, which pays for the bonds with checks
Convergence refers to the idea that cross-country
a. growth rates will become more similar over time. b. unemployment rates will become more similar over time. c. per-capita income levels will become more similar over time. d. total income levels will become more similar over time. e. none of the above.
A major point of difference between President Obama and Senator McCain in the 2008 campaign was
A. the desirability of increasing the federal minimum wage. B. the wisdom of stabilizing the U.S. banking system. C. the temporary Bush tax cuts of 2003. D. all of the options are correct.