Commitment devices can be:
A. a way to use choice architecture to help you avoid temptation.
B. formal policies or products.
C. a way for people to voluntarily restrict their choices in order to make it easier to stick to plans.
D. All of these statements are true.
D. All of these statements are true.
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Describe how a Clarke tax is designed and explain how it leads a person to correctly reveal his preferences for a public good.
What will be an ideal response?
The purchase of VCU2 by Tomas Tiergarten, a private resident,causes the nation's:
a. Monetary base to rise. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
A program to reduce inflation is likely to have lower costs if the sacrifice ratio is
a. high and the reduction is unexpected. b. high and the reduction is expected. c. low and the reduction is unexpected. d. low and the reduction is expected.
The graph shown best represents:
A. a binding price floor. B. a missing market. C. a binding price ceiling. D. a market for an inferior good.