Neuroeconomics is
A) the study of the activity of a human brain when the person makes economic decision.
B) the study of how people behave when they face scarcity.
C) the study of situations in which people act economically irrationally.
D) the study of how people make decisions at the margin.
A
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A monopolist’s total profit is shown by the difference between price and average cost per unit times the number of units sold.
Answer the following statement true (T) or false (F)
Answer the following statement(s) true (T) or false (F)
1. If the mpc is 0.8 and government spending increases by $10 billion, equilibrium Y will increase by $50 billion. 2. Decreasing taxes is an example of expansionary fiscal policy. 3. Most of the U.S. government debt is owed to foreign countries. 4. The HDI is an index of well-being. 5. The deficit is the sum of yearly government debts since 1776.
The focus of the Ricardian model is on how:
a. countries' resource bases explain international trade. b. countries' different technologies explain international trade. c. transportation costs explain international trade. d. different languages and cultures explain international trade.
In which of the following ways is graph A different from graph B?
a. P1 to P2 is larger in graph B than in graph A.
b. Q1 to Q2 is larger in graph B than in graph A.
c. P1 to P2 is larger in graph A than in graph B.
d. Q1 to Q2 is larger in graph A than in graph B.