According to Gary Becker's "Rotten Kid theorem," a child will be deterred from stealing from his siblings
a. as long as he fears that his parents will punish him.
b. when parents are altruistic and treat their children equally.
c. only if the probability of being caught is sufficiently large.
d. if he inherits the "altruistic gene" from his parents.
b. when parents are altruistic and treat their children equally.
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Property rights are social facts because
A) they are created and enforced by government. B) they are widely distributed throughout society. C) they depend upon other people's acceptance of corresponding obligations. D) they must be held in common to be effective.
From 1950 to 2009, the average length of expansions in the United States has been
A) less than 2 years. B) between 2 year and 3 years. C) between 3 years and 4 years. D) longer than 4 years.
A discount shoe manufacturer's advertisement suggests that they are almost as good as the name brands but better value. The shoe manufacturer believes that the advertisement will
a. Make the demand for its product more elastic b. Make his customers more price sensitive c. Cause people to directly compare his product to the name brands d. All of the above
In response to the “Great Depression 2.0,” the Obama administration responded with more tax cuts, increased federal spending, and aid to state and local governments.
Answer the following statement true (T) or false (F)