An example of a commitment device would be:
A. a swear jar that you and your friends agree must be paid $5 each time someone swears.
B. putting a note on the cookie jar that you want to lose weight.
C. buying yourself an ice cream after going to the gym.
D. All of these are examples of commitment devices.
Answer: A
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Land owners with secure and protected property rights are motivated to
(a) use their land productively. (b) maintain their land and its value as long as the land is owned privately and profits are realized by the land owners. (c) not hold their land idle if they face property taxes due to costs imposed by the tax system. (d) link land ownership and personal freedom.
The majority of blacks were shipped from West Africa, but some also came from Madagascar and Zanzibar
Indicate whether the statement is true or false
Bambi sells apples that she produces up to the equilibrium price of $20 per bushel. Andre sells green beans that he produces up to the equilibrium price of $18 per bushel. If they both sell the same number of bushels, but Andre makes more profit than Bambi, which of the following situations is true?
a. Producer surplus is greater for green beans than apples. b. Producer surplus is less for green beans than apples. c. Producer surplus is the same for green beans and apples. d. Producer surplus is negative for both green beans and apples.
Which of the following is a provision of the Federal Reserve Act or subsequent legislation that weakens the independence of the Federal Reserve?
a) The Federal Reserve's actions are subject to executive branch control. b) Members of the Federal Reserve Board serve 14-year terms. c) Members of the Federal Reserve Board cannot be reappointed. d) The Federal Reserve System is subject to Congressional oversight.