A behavioral economist will explain Tom's donation to charity by saying that Tom is displaying ________
A) the endowment effect
B) bounded rationality
C) bounded self-interest
D) bounded will power
C
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Figure 8-2
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In Figure 8-2, which of the following moves can be explained by an increase in government transfer payments?
A. A to B B. A to C C. A to D D. A to E
The hypothesis about the macro economy that sees the recent problems of the U.S. economy directly related to the structural problems caused by globalization is referred to as the ________ hypothesis.
A. low investment B. secular stagnation C. comparative stagnation D. structural stagnation
The Framework Convention on Climate Change took place in
A) the 1973-1979 Tokyo Round. B) the 1987-1993 Uruguay Round. C) the 1997 Kyoto Protocol. D) the 2001 Doha Round.
In which industry or sector of the economy is output least likely to be affected by the business cycle?
What will be an ideal response?