Installing software to limit screen time, forcing you to uninstall it every time you reach the limit, is an example of:
A. a commitment device.
B. increasing the cost of a vice.
C. can be explained through behavioral economics.
D. All of these are true.
Answer: D
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Refer to Figure 15-6. The monopolist's total cost is
A) $1,116. B) $1,240. C) $1,660. D) $1,726.40.
With what type of recession should discretionary fiscal policy be used with caution?
a. any recession b. smaller recessions c. larger recessions d. long recessions
Which of the following causes of unemployment is associated with a wage rate above the market equilibrium level?
a. minimum-wage laws b. unions c. efficiency wages d. All of the above are correct.
If Sean sells Susan a DVD player for $30,
a. the well-being of both parties will be unchanged. b. both Sean and Susan will gain from this transaction. c. Sean will gain from the transaction, but Susan will lose. d. Susan will gain from the transaction, but Sean will lose.