Ihaveathousandfriends Social Networking firm had a remarkably profitable year. As a result, its employees expect to receive bonus checks. Which of the following insights into human behavior do the employees exhibit?
a. People are overconfident.
b. People care about fairness.
c. People are reluctant to change their minds.
d. People are inconsistent over time.
b
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Another name for a "flat-rate tax" in which the same tax rate applies to all income earners is a
A) proportional tax. B) progressive tax. C) regressive tax. D) passive tax.
For a given market demand curve, if the market clearing price decreases, then the amount of consumer surplus will
A) decrease. B) increase. C) become negative. D) none of the above due to insufficient information.
Explain how the "new growth theory" treats technology differently from the way economists used to treat technology
What will be an ideal response?
Explain the difference between a change in quantity supplied and a change in supply
What will be an ideal response?