George donates money for charity only when somebody he knows approaches him for such donations. This is an example of ________
A) rationalism
B) impure altruism
C) pure altruism
D) liberalism
B
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When does the second player in an ultimatum game reject the offer made by the first player?
What will be an ideal response?
If you exhibit endowment effect, then you
A) decide rationally when making decisions about selling but not when making decisions about buying. B) have a strong attachment to things you already own. C) buy something you cannot afford. D) decide rationally when making decisions about buying but not when making decisions about selling.
In a direct, majority-rule vote,
a. all voters get what they want b. a majority of voters get exactly what they want c. only the median voter is completely satisfied d. a minority of voters are dissatisfied e. only the median voter is dissatisfied
Which of the following is the most distinguishing characteristic of a monopolistically competitive industry?
a. Market barriers b. One firm controls the industry c. Product differentiation d. A small number of firms dominate the market