Jaime's father gives her a pen for her graduation from college, but Jaime wants a smartphone. This implies that
A) Jaime's father is not acting out of self-interest because he knows that she really wants a smartphone.
B) Jaime's father is acting out of self-interest because he wants to give her something useful.
C) Jaime is not acting out of her self-interest by wanting something different from what her father gives her.
D) Jaime is not rational by asking for a smartphone instead of a pen.
B
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Odd pricing became common in the late 19th century. Although the origins of odd pricing are uncertain, several explanations for the practice have been given. Which of the following is one of these explanations?
A) Odd pricing began in an era when it was difficult for owners and managers of firms to determine the marginal cost of the goods and services they sold. Odd prices were rough estimates designed to cover costs plus earn firms a profit. B) Odd pricing was begun in England in the 1700s when America was part of the British Empire. Members of the British Royal Court were given the task of pricing products. After independence, merchants in the United States carried on the practice of odd pricing. C) After the passage of the Sherman Act in 1890, merchants used odd pricing as a means of avoiding prosecution for antitrust violations. D) Odd pricing forced employees to give customers change. This made it more likely that employees would record sales rather than pocketing their customers' money.
One reason why purchasing power parity may not work perfectly is that some goods, because of their nature, are difficult to trade
a. True b. False
The ________ multiplier is defined as the quantity of money that the banking system can generate from each $1 of bank reserves.
a. fiscal b. production c. money d. banking
If the production of oranges reduces global warming, then the equilibrium quantity of oranges will be ________ the socially optimal quantity.
A. lower than B. equal to C. more valuable than D. higher than