An online shoe retailer wants to introduce handling charges for purchases less than $50 . How should the retailer pose the charges to its customers to improve its chances of being well-received?
a. Introduce it separately as handling
b. Lump it together with shipping costs, but don't let the customer know until they check out
c. Introduce it as free above $50
d. Hide it from the customer
c
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If the value of the Gini coefficient increased between any two-year period of time, this means that income inequality __________ between these two years.
a. decreased
b. increased
c. stay the same
Adam Smith was an advocate of:
a. mercantilism. b. a nation maximizing its stock of gold. c. unrestricted or free trade. d. the visible hand of public interest.
Economic discrimination exists when
A) there is an unequal distribution of income in a country. B) both income and wealth are unequally distributed in a country. C) there is unequal access to education. D) workers with the same marginal revenue products are paid different wages.
Answer the following questions true (T) or false (F)
1. Suppose the government mandates the installation of a certain type of pollution abatement equipment for the leather tannery industry. For some firms in the industry, installing this equipment may not be the most cost effective method of reducing pollution. 2. When the government imposes a tax equal to the external cost of producing a product that causes pollution, the government is said to externalize the externality. 3. A.C. Pigou argued that the government can deal with a positive externality in consumption by giving consumers a subsidy equal to the value of the externality.