Which of the following statements is not correct?
a. The median voter theorem explains why politicians appeal to the middle of the voting distribution.
b. Based on studies of human decision making, most people prefer to procrastinate, both in the immediate future and in the distant future.
c. Screening refers to an uninformed party trying to extract information from an informed party.
d. Advertising can be an example of a company signaling the quality of its products.
b
You might also like to view...
For a perfectly competitive firm, price is the same as
A) marginal revenue. B) average variable cost. C) total revenue. D) Both answers A and B are correct.
Most economists believe that the return of ________ during the 2007-2009 recession is a key reason why the recession was so severe
A) high interest rates B) rapid inflation C) high tariffs D) financial instability
To keep from running out of international reserves under the Bretton Woods system, a country had to implement ________ monetary policy to ________ its currency
A) expansionary; strengthen B) expansionary; weaken C) contractionary; strengthen D) contractionary; weaken
Equating society's marginal benefits with marginal costs will ensure that the economically efficient level of either private or public goods is attained
Indicate whether the statement is true or false