David McClelland, a Harvard psychologist, stressed that individuals vary in their need for ________________
a. Achievement, which he called the "n Ach."
b. Acceptance
c. Success and happiness
d. Positive outcomes
A
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Which of the following is not true of all indifference curves?
A) they slope downward B) the point at which one indifference curve intersects another represents an optimal consumption basket C) they are bowed toward the origin D) they can intersect with a budget constraint one or more times
Figure 4-18
Refer to . The price of the good would continue to serve as the rationing mechanism if
a.
a price ceiling of $4.00 were imposed.
b.
a price ceiling of $5.00 were imposed.
c.
a price floor of $3.00 were imposed.
d.
All of the above are correct.
Assume a consumption function of the following form: C = 500 + .9Y. If income rises by $100, consumption will increase by
A) $90. B) $550. C) $590. D) $600.
If the Prisoners' Dilemma is repeated over and over again with the same two players having an indefinite time horizon,
a. the unique equilibrium is to play the Nash equilibrium of Rat each period. b. players can cooperate on Silent if they are not too patient. c. players can cooperate on Silent if they are patient enough. d. players can only cooperate on Silent in the initial stages of the game.