A "bad choice" as defined in choice architecture is a choice that:
A. policymakers want to nudge participants away from.
B. is one that the chooser will regret later.
C. is considered not optimal by the choice architect.
D. policymakers consider not optimal for society, despite individual choosers' benefits.
B. is one that the chooser will regret later.
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Two students are assigned a group project. Each has the option to work or not work to achieve a high grade. The payoffs are shown in the above table. Student 1 should
A) work only if student 2 works. B) work regardless of the decision made by student 2. C) not work if student 2 works. D) not work regardless of what student 2 decides.
Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S. If the price of corn feed is $4 and corn feed is on the horizontal axis, and the price of soybean feed is $5 and soybean feed lies on the vertical axis, what is expansion path?
a. C =5S/2 b. S =2C/5 c. the horizontal axis d. the vertical axis
Bob could do 3 broken legs and 7 bandage wounds, James can do 2 broken legs and 5 bandages wounds Bob has both absolute advantages
What will be an ideal response?
Building roads, power generators, and irrigation systems are projects that are referred to as
A. human capital. B. social overhead capital. C. physical capital. D. financial capital.