Economists have used ________ and ________ in experiments designed to determine whether consumers care about fairness when they make decisions
A) the income effect; the substitution effect B) Giffen goods; luxury goods
C) network externalities; the endowment effect D) the ultimatum game; the dictator game
D
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Lindsay and Tim are playing the ultimatum game starting with $100 . Based on the coin toss, Lindsay is the player to propose a division of the $100 . If Lindsay acts as economic theory assumes, she should propose that
If the value of the U.S. dollar changes from 1.2 euros to 1.4 euros, we would expect that the United States would experience a ________ in exports and a ________ in imports.
A. rise; rise B. fall; fall C. rise; fall D. fall; rise
Describe some of the ways in which firms differentiate their products.
What will be an ideal response?
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C