In New State, the bottling law requires that people get a refund of five cents when they return an empty bottle or can. Why does the state pay people to return bottles? In your answer, be sure to mention the role played by rational choice
What will be an ideal response?
Policy makers know that people making rational choices respond to incentives. Instead of throwing away bottles and cans, people will now bring the used bottles and cans to the designated areas for recycling in order to receive their payment. Thus policy makers have taken advantage of people's rational decision making in order to reduce litter and clean the environment.
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A new country has been established on the moon and created a currency called cheesybits. Which of the following represents a supply of cheesybits?
A. Han is visiting the moon and wants to eat at his favorite restaurant, the Moonglow Bar and Grill. B. Luna lives on the moon and wants to travel to visit relatives in Japan. C. Moonbeam Incorporated, the largest company on the moon, sells building products for houses on the moon. D. Spacejunk Corporation sells recycled spacecraft parts to Rockets-R-Us in California.
The automobile, breakfast cereal, and tobacco industries are examples of
a. monopolistic competition b. oligopoly c. perfect competition d. monopoly e. monopsony
If consumers suddenly have a greater desire for energy drinks, the price of energy drinks will likely ________ and producers will ________ production
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
If a bank offers mortgages that do not require the normal 20% down payment, the bank encourages
A) people who know they might not pay off the mortgage. B) people who can't afford the down payment but can pay off the mortgage. C) people who know that they are going to pay off the mortgage. D) people who know they can't pay off the mortgage but who can afford the down payment.