Behavioral economics
A. suggests that consumers purchase health club memberships instead of paying per visit in an attempt to commit themselves to an exercise regime.
B. has contributed to microeconomics but not to macroeconomics.
C. suggests that too much variety may be welfare enhancing.
D. blends insights from sociology and economics.
Answer: A
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Explain the different sources of negative network externalities
The current cost of a market basket of goods is $9,000 . The cost of the same basket of goods in the base year was $3,000 . The current price index is:
a. 900. b. 300. c. 166. d. 33.
A marginal propensity to save (MPS) of 0.25 means a $50 million tax cut ultimately
A. Increases spending by $400 million. B. Increases spending by $200 million. C. Increases spending by $150 million. D. Reduces spending by $50 million.
Which group has a direct responsibility for providing analysis, advice, and assistance to the U.S. president on economic matters?
A. The Congressional Budget Office B. The Joint Economic Committee C. The Council of Economic Advisors D. The Federal Reserve Board