Indifference curves that are thick violate
A) the assumption of transitivity.
B) the assumption that more is better.
C) the assumption of completeness.
D) none of the assumptions.
B
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The citizens of a country often refuse to pay voluntarily for defense spending because ________
A) national defense is a common pool resource B) nobody can be excluded from being defended by the state C) all citizens do not derive equal satisfaction from national defense D) national defense is rival in consumption
Loss aversion can explain why very little ________ actually takes place in the securities market
A) short selling B) bargaining C) bartering D) negotiating
Which of the following unfair trade remedies is used LEAST often?
a. antidumping duties b. countervailing duties c. safeguard or escape clause duties d. antidumping and countervailing duties.
Economists infer that a consumer receives more utility from one good than another by
A. observing the consumer's behavior. B. giving consumers surveys about the utility they receive from the goods. C. means of introspection and speculation. D. the logic of the models used.