What insight into human behavior do economist learn from observing people playing the ultimatum game?
People care about fairness.
You might also like to view...
Which of the following uses of tax revenues collected by the government leads to increased capital deepening?
A) Medicare payments B) Social Security payments C) increased foreign aid D) building roads
The German central bank, the Bundesbank, faced the risk of increased inflation caused by its actions to support an overvalued deutsche mark in the 1960s
Indicate whether the statement is true or false
If Japan does not have a comparative advantage in producing rice, the consequences of adopting a Japanese policy of reducing or eliminating imports of rice into their country would include: a. making the price of rice in Japan rise
b. making the real incomes of Japanese rice producers rise, but the real incomes of Japanese rice consumers fall. c. making the real incomes of non-Japanese rice exporting countries lower. d. all of the above
In the United States, for a $1 fall in state government revenue, the federal government increases transfers by:
A) $2. B) $1. C) 30 cents. D) 15 cents.