Choices made in the ultimatum game suggest:
A. that in social situations, emotions such as anger and indignation influence economic decisions.
B. that ultimatums make decision-making more optimal.
C. that individuals are not influenced by social motives.
D. that offering an ultimatum is usually a bad strategy.
A. that in social situations, emotions such as anger and indignation influence economic decisions.
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Discuss the quantity theory of money. Be sure to mention the velocity of circulation and the equation of exchange
What will be an ideal response?
A small firm's __________ usually has the task of getting to know the loan officers of local banks
A) accountant B) owner C) production manager D) tax attorney
If a production possibilities curve (PPC) has capital on the vertical axis and consumer goods on the horizontal axis, which of the following is true?
a. Greater emphasis on the production of consumer goods today leads to greater outward shifts in the PPC, thus increasing the wealth of people in the future. b. Greater emphasis on the production of capital today leads to greater outward shifts in the PPC, thus increasing the wealth of people in the future. c. There is a tradeoff between emphasizing the production of capital today to benefit people today versus emphasizing the production of consumer goods today that will generate benefits in the future. d. Greater emphasis on the production of capital today leads to future inward shifts in the PPC, thus decreasing the wealth of people in the future.
Figure 9-3
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In Figure 9-3, saving at equilibrium GDP is
A. $1,200 billion. B. $1,000 billion. C. $800 billion. D. $600 billion. E. $400 billion.