Results of the ultimatum game indicate that most people value fairness enough that they will refuse to participate in a transaction they consider unfair, even if they are worse off financially as a result
Indicate whether the statement is true or false
TRUE
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The lesson learned from the discussion about kibbutzim in your textbook is that organizations which are controlled by people who place a low value on acquiring material things
a. do not maximize profit b. only produce enough to survive c. cannot compete in a capitalist society d. have religious convictions against profit e. still maximize profit
Ryan sells 200 plastic ball point pens at $0.50 each. His total costs are $25 . His profits are
a. $25. b. $75. c. $100. d. $175.
One concern over external national debt is that interest and principal payments transfer wealth overseas. The percentage of the national debt held in recent years by foreigners is approximately:
A. 10 percent. B. 20 percent. C. 30 percent. D. 50 percent.
An example of a transfer payment is
A. a Social Security retirement benefit. B. the added value of stock from the time it was bought to the time it was sold. C. the salary paid to a member of the armed forces. D. an interest payment on a General Motors' bond.