Linnea applied for a new job because it pays more than her current job. According to economists, Linnea is most likely motivated by ______.
a. self-interest
b. greed
c. selfishness
d. competitiveness
a. self-interest
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Explain the economic idea that "people respond to incentives."
What will be an ideal response?
Which indicator shows how well a regression line fits through the scatter of data points?
A) F-test B) R2 C) t-test D) Durbin-Watson test
If the more-is-better principle holds, then indifference curves must:
A. be positively-sloped. B. be negatively-sloped. C. be thin. D. be concave.
Alex wants to borrow $1,000 from Kara. If he repays the loan in one year, Kara would require him to pay 5 percent interest on the loan. If Alex wants to repay the loan over three years, but Kara strongly prefers present to future consumption, we would
expect the interest rate on a three-year loan to be: A. lower than for a one-year loan. B. greater than for a one-year loan. C. the same as for a one-year loan. D. higher if Kara expected there to be no inflation over the loan repayment period.