Individuals economize and respond predictably to
a. positive incentives, but not negative incentives.
b. negative incentives, but not positive incentives.
c. both positive and negative incentives.
d. neither positive or negative incentives.
c. both positive and negative incentives.
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Price discrimination by sellers usually results in
A) coercing people into buying goods they don't want to purchase. B) coercing people into paying higher prices than they want to pay. C) less total but more net revenue for the seller. D) new and additional opportunities for some buyers.
If imperfect information characterizes workers' behavior, then there will be a
A) slow adjustment of the demand for labor, Nd. B) rapid adjustment of the demand for labor, Nd. C) rapid adjustment of both the demand for labor, Nd, and the supply of labor, Ns. D) a lagged adjustment of the equilibrium level of employment, Ns.
Suppose that when you consume the third piece of chicken, total utility rises from 420 to 520. Marginal utility for the third piece of chicken is:
A. 520. B. 420. C. 100. D. 140.
A decrease the nominal deficit can be caused by an increase in:
A. the debt. B. government expenditures. C. interest rates. D. taxes.