You can either stand during a college football game or you can sit. You believe that you will see the game very well if you stand and others sit but that you will not be able to see at all if you sit and others stand. You therefore decide to stand.
A. ?equilibrium, because other fans may change their behavior.
B. empiricism, because you believe you know what the other fans will do.
C. optimization, because other fans are maximizing their? well-being.
D. optimization, because you are choosing your best feasible option.
D. optimization, because you are choosing your best feasible option.
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The primary difference between the neoclassical growth model and endogenous growth models is that
a. the neoclassical growth model assumes that technology is exogenous. b. endogenous growth models attempt to explain movements in technology within the model. c. changes in savings rates can affect growth in the long-run in endogenous growth models. d. both a and b. e. all of the above.
Subsidies _______________the cost of production, encouraging current producers to stay in the market and new producers to enter.
Fill in the blank(s) with the appropriate word(s).
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
Along an indifference curve,
A) the marginal utility of all items is equal. B) the total satisfaction is the same. C) the prices of all goods are equal. D) the marginal utility/price ratios of all items are equal.