Knowing that most people do not care to be outliers, one way to get people to behave a certain way is to:
A. tell them everyone else does it.
B. let them know it is a social norm to behave that way.
C. encourage the behavior of the majority.
D. All of these statements are true.
D. All of these statements are true.
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Given the same marginal revenue product (MRP) and supply curves, the equilibrium quantity of labor employed in a monopsonistic labor market will be:
a. equal to that in a competitive labor market. b. less than that in a competitive labor market. c. greater than that in a competitive labor market. d. there is insufficient information for a conclusion.
The following statements are accurate except a. Social Security represents in-kind transfer payments. b. The percentage of people below the poverty line fell dramatically between 1960 and 1970
c. The negative income tax was designed to preserve incentives to work. d. Income inequality in the U.S. is less unequal than the inequality of wealth. e. The Gini coefficient measures income distribution.
In the economy of Talikastan in 2015, consumption was $6000, exports were $1000, GDP was $10,000, government purchases were $1800, and imports were $1200 . What was Talikastan's investment in 2015?
a. $0 b. $1200 c. $2400 d. $5600
Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.
Figure 4.4Refer to Figure 4.4. At the world price of $125 per barrel of oil, the United States imports ________ million barrels of oil per day.
A. 4 B. 6 C. 8 D. 10