Behavioral economists believe that people can be made better off by:
A. Giving them more options, just like the belief of neoclassical economists
B. Giving them more options, contrary to the belief of neoclassical economists
C. Getting them to select better from the same set of options as they had initially
D. Requiring them to follow an externally-determined best choice among their options
C. Getting them to select better from the same set of options as they had initially
You might also like to view...
The change in a firm's total revenue that results from hiring an additional worker is measured by the
A. average revenue product. B. marginal product. C. marginal revenue. D. marginal revenue product.
If the price of monthly satellite TV service increases from $40 to $50, the percentage change is
A) 5 percent. B) 20 percent. C) 25 percent. D) 45 percent.
(I) Rational expectations adherents believe that decision makers base their future expectations on actual outcomes observed during recent periods. (II) The adaptive expectations hypothesis states that decision makers weigh all available evidence when forming expectations about future economic events
a. I is true; II is false. b. I is false; II is true. c. Both I and II are true. d. Both I and II are false.
Based on Scenario 6.1 above, value added in the United States is
A) $500. B) $600. C) $400. D) $300.