A successful trademark is one that becomes a generic name for a product, for example, "Kleenex" has become a generic term for tissues
Indicate whether the statement is true or false
FALSE
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A ________ person is indifferent to a bet that has zero expected value
A) risk-neutral B) risk-loving C) risk-averse D) rent-seeking
In Spain, people are considered organ donors unless the explicitly indicate they do not want to be. In the United States, people are only considered organ donors if they explicitly indicate they wish to be. Behavioral economics would suggest that
A) everything else equal, the opt-in system of Spain would generate more organ donors as a percentage of the adult population. B) everything else equal, the opt-in system of the United States would generate more organ donors as a percentage of the adult population. C) everything else equal, the opt-out system of Spain would generate more organ donors as a percentage of the adult population. D) everything else equal, the opt-out system of the United States would generate more organ donors as a percentage of the adult population.
Voluntary export restraints and quotas are essentially identical in their welfare effects
Indicate whether the statement is true or false
The concept of utility maximization:
A. is solely used to measure an individual's satisfaction with his consumption choices. B. can be used broadly to think about choices made motivated by satisfaction, envy, status, or kindness. C. assumes each individual seeks to increase his own personal satisfaction regardless of others. D. None of these is true.