Recall the Application about a South African consumer lender that offered different interest rates in loan offers via mass mailings to answer the following question(s).Based on the results of the Application, if a firm can only afford to put one picture in their mailings, it should be:
A. a woman, because it increases men's uptake rate, but does not affect women's uptake rate.
B. a woman, because it increases women's uptake rate, but does not affect men's uptake rate.
C. a man, because it increases men's uptake rate, but does not affect women's uptake rate.
D. a man, because it increases women's uptake rate, but does not affect men's uptake rate.
Answer: A
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Answer the following statement(s) true (T) or false (F)
1. The underlying assumptions of the Coase Theorem are that transactions are costless and that damages are accessible and can be measured. 2. The study conducted by Greenpeace China of the Pearl River Delta (PRD) region indicates that progress is being made to improve water quality. 3. If property rights are held by the producer of an externality-generating good, then bargaining will continue as long as MEC>?>M?, where ? represents the payment offered to the producer not to pollute. 4. If recreational users of a natural resource hold the property rights to that resource, their bargaining stance with the producer of an externality-generating good who wants to use that resource is that they will accept a payment ? as long as ?< (MSC – MSB). 5. If property rights for resources are shared, those resources are called common property resources.
According to Max Weber, the Protestant world view that encouraged hard work and saving was crucial to industrialization and the development of capitalism. Which hypothesis is this view based on?
A) The geography hypothesis B) The location hypothesis C) The institutions hypothesis D) The culture hypothesis
Consider a production possibilities frontier with corn on the vertical axis and cars on the horizontal. Unusually good weather for growing corn shifts
A) the horizontal intercept rightward and the vertical intercept upward. B) the horizontal intercept rightward but does not shift the vertical intercept. C) the vertical intercept upward but does not shift the horizontal intercept. D) neither the horizontal intercept nor the vertical intercept.
A good economic model
A) describes every aspect of the economic world, with no exception. B) includes all those features of the world that can be described numerically. C) includes only those features of the world that are needed for the purpose at hand. D) should not include more than two variables.