The United States is one of the most “marketized” economies in the world.
Answer the following statement true (T) or false (F)
True
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What is one difference between stocks and bonds?
A) Bonds are purchased at a bank, while stocks are purchased through the federal government. B) Bonds earn a higher rate of return than stocks. C) Stocks earn a higher rate of return than bonds. D) Stocks represent partial ownership in a firm, while bonds do not.
The implementation of choice architecture that alters people's behavior in a deliberate and predictable way without changing economic incentives much is called:
A. influencing through choice. B. nudging. C. shifting. D. baiting.
Which of the following descriptions best depicts the substitution effect?
a. the change in consumption resulting from a change in the consumer's income, holding the prices of the goods constant b. the change in consumption resulting from a change in the consumer's income, holding the consumer's level of satisfaction constant c. the change in consumption resulting from a change in the price of one good, holding the consumer's level of satisfaction constant d. the change in consumption resulting from a change in the price of one good, allowing the consumer's level of satisfaction to change
An example of a trade-off is
a. giving up going to a movie to spend time shopping b. giving up going to a movie because it got bad reviews c. going to a movie to see your favorite movie star d. not going to a movie because your wife isn't feeling well