Lobbying can shape regulations through:
A. collusion.
B. objective cost benefit analysis.
C. rent-seeking behavior.
D. forced action.
C. rent-seeking behavior.
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When shopping online, as part of the check-out process, companies often have a box checked automatically that states you want to receive promotional e-mails from them. The directions instruct you to uncheck the box if you do not wish such correspondence. This practice is a good example of:
A. status-quo bias. B. endowment bias. C. endowment effect. D. time inconsistency.
In the United States, the central bank is the:
A. Federal Reserve. B. Congressional Budgeting Office. C. Treasury. D. National Bank of the United States.
List and discuss three problems that might arise when using the Coase theorem.
What will be an ideal response?
If the price of output increases, the equilibrium wage of workers who produce that output will ________ and ________ workers will be hired.
A. increase; more B. increase; fewer C. decrease; more D. decrease; fewer