The famous historical example of the commitment strategy used by Cortes against the Aztecs is sometimes referred to as:
A. "burning your boats."
B. "burning your bridges."
C. "friendly fire."
D. "putting all your eggs in one basket."
A. "burning your boats."
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Which of the following is NOT a result of the ability of investors to hedge?
A) increased access to funds by firms and households B) investors are more willing to invest C) increased risk aversion D) slower economic growth
The referendum version of the median voter model allows voters to vote on a series of marginally increasing quantities of a good
a. True b. False
When a person's income increases:
A. the individual's budget constraint shifts straight out, maintaining the same slope. B. the individual's budget constraint shifts straight in, maintaining the same slope. C. the individual's budget constraint rotates out and becomes flatter. D. the individual's budget constraint rotates in and becomes steeper.
If the quantity of a good demanded by a typical consumer increases in response to the growth in purchases of other consumers,
A. a negative network externality is present. B. a network externality is absent. C. a network externality can be positive or negative D. a positive network externality is present.