When considering choice architecture, a nudge:
A. is a gentle push in a particular direction.
B. does not take away any options.
C. allows anyone who wants to go in a different direction to do so.
D. All of these statements are true.
D. All of these statements are true.
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The marginal cost to a student of missing a class meeting in Introductory Economics increases when
A) textbook prices increase. B) tuition rates increase. C) valuable information is communicated in the class meetings. D) any of the above occurs.
Diseconomies of scale are associated with
a. Inefficiencies b. Cost reduction c. Improvement in technology d. Division of labor
From the standpoint of the economy as a whole, the role of
a. the interest rate is to make sure that the price of bonds increases over time. b. diversification is to eliminate market risk. c. insurance is to reduce the risks inherent in life. d. insurance is to spread risks around more efficiently.
The median-voter model implies that:
A. political voting will be as economically efficient as "dollar voting" in competitive markets. B. all voters have about the same preferences for various public goods and services. C. many people will be dissatisfied with the size of government in the economy. D. with majority voting there can never be a consistent ordering of public good preferences.