Which of the following tendencies would explain why a waiter might give a $0.50 tip on a $40 meal back to the customer instead of pocketing it?
a. anchoring
b. the endowment effect
c. fairness
d. the gambler’s fallacy
c. fairness
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A ________ monopoly sells different units of its good or service for ________
A) price-discriminating; different prices B) price-discriminating; the same price C) single-price; the same price D) single-price; different prices E) Both Answers A and C are correct.
When interest rates rise in the United States (with the price level fixed), the value of the dollar ________, domestic goods become ________ expensive, and net exports ________
A) falls; less; fall B) falls; more; rise C) rises; more; fall D) rises; less; fall
While it is not certain that U.S. leadership will continue into the next generation, the nation will continue to enjoy the abundance it has enjoyed in the past
a. True b. False Indicate whether the statement is true or false
Special-interest groups engage in rent seeking to the extent, that they shift resources from productive endeavors to activities that transfer income to their special interests
Indicate whether the statement is true or false