Evidence from experiments in which real people play the ultimatum game supports the idea that people
a. are rational wealth-maximizers.
b. tend to be driven by fairness, without regard for their own self-interest.
c. are driven by both fairness and self-interest.
d. have trouble calculating their own levels of wealth.
c
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The magnitude of the tax multiplier is smaller than the magnitude of the government expenditure multiplier because
A) a change in taxes does not change expenditures. B) an increase in taxes decreases expenditures. C) a decrease in government expenditure decreases tax revenue. D) a change in taxes does not change expenditures by as much as the same size change in government expenditure. E) a change in taxes creates additional induced taxes.
Refer to the table above. What is the marginal product of the third worker?
A) 60 pairs of shoes B) 68 pairs of shoes C) 112 pairs of shoes D) 180 pairs of shoes
With normally-sloped IS and LM curves, an increase in government spending ________ the interest rate, which ________ autonomous planned expenditure, resulting in a final increase in income ________ than what the government spending increase would
have produced in the Chapter 3 model. A) lowers, raises, greater B) lowers, lowers, greater C) raises, lowers, less D) raises, raises, less E) raises, raises, greater
The organization of the context and process in which people make decisions is called:
A. political structure. B. choice architecture. C. ways and means theory. D. choice structure.